ATO changes to reporting employee superannuation through small business clearing house

In 2011 it became compulsory for all employers to be SuperStream compliant.  SuperStream is the way businesses must pay employee superannuation guarantee contributions to superannuation funds. With SuperStream, money and data are sent electronically.

To be SuperStream compliant meant that employers needed to register with a small business superannuation clearing house (SBSCH) to make all their superannuation contributions in a single transaction, even if employee contributions were going to multiple super funds.  There were many clearing houses available for employers to choose from including those established by the various superannuation funds and the small business superannuation clearing house set up by the Australian Taxation Office.

The way employers report and pay employee superannuation is about to change.  From 19 February 2018 employers will no longer be able to access the ATO’s current small business superannuation clearing house. The username and passwords will no longer be functional. 

On February 26, the Australian Taxation Office’s Small Business Superannuation Clearing House will join the ATO's online services. This will streamline how employers use the SBSCH by enabling access to tax and superannuation with just one log in and  have access to additional functionality.

Employers will be able to access the SBSCH from within the Business Portal.  Sole traders who have employees also have the option to link their myGov accounts with the ATO instead of accessing the business portal with an AUSkey.

The ATO’s SBSCH will be unavailable from February 20 – 25 while the ATO transfer the data into their online services. Employers registered as users of the existing SBSCH will have their records automatically transferred and integrated into the new system.  This includes employer / employee details and payment records.

As your accountant, we will now have the ability to access your employee superannuation information via our tax agent portal.  We will be able to confirm that your superannuation reporting and payment obligations have been met.

The changes to the small business superannuation clearing house will go hand in hand with ATO’s Single Touch Payroll initiative. What this means is that as an employer you will be able to report payments such as wages, pay as you go withholding and superannuation to the Australian Taxation Office directly from your accounting software package (MYOB, Reckon, Xero, Quickbooks Online etc) at the same time as you pay your employees.

In 2011 it became compulsory for all employers to be SuperStream compliant. SuperStream is the way businesses must pay employee superannuation guarantee contributions to superannuation funds. With SuperStream, money and data are sent electronically.

To be SuperStream compliant meant that employers needed to register with a small business superannuation clearing house (SBSCH) to make all their superannuation contributions in a single transaction, even if employee contributions were going to multiple super funds. There were many clearing houses available for employers to choose from including those established by the various superannuation funds and the small business superannuation clearing house set up by the Australian Taxation Office.

The way employers report and pay employee superannuation is about to change. From 19 February 2018 employers will no longer be able to access the ATO’s current small business superannuation clearing house. The username and passwords will no longer be functional.

On February 26, the Australian Taxation Office’s Small Business Superannuation Clearing House will join the ATO's online services. This will streamline how employers use the SBSCH by enabling access to tax and superannuation with just one log in and have access to additional functionality.

Employers will be able to access the SBSCH from within the Business Portal. Sole traders who have employees also have the option to link their myGov accounts with the ATO instead of accessing the business portal with an AUSkey.

The ATO’s SBSCH will be unavailable from February 20 – 25 while the ATO transfer the data into their online services. Employers registered as users of the existing SBSCH will have their records automatically transferred and integrated into the new system. This includes employer / employee details and payment records.

As your accountant, we will now have the ability to access your employee superannuation information via our tax agent portal. We will be able to confirm that your superannuation reporting and payment obligations have been met.
The changes to the small business superannuation clearing house will go hand in hand with ATO’s Single Touch Payroll initiative. What this means is that as an employer you will be able to report payments such as wages, pay as you go withholding and superannuation to the Australian Taxation Office directly from your accounting software package (MYOB, Reckon, Xero, Quickbooks Online etc) at the same time as you pay your employees.

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