Implementation Dates to ensure you are Superstream Compliant:

  • Employers 20 or more Employees – Must already be compliant
  • Employers 19 or less Employees – Starts 1 July 2016

Resources:

  • What Employers Need to Know
  • Employer Checklist
  • Penalties apply for late payments

Option 1 – Using Xero Autosuper:

Xero accounting software enable employers to make superannuation payments to multiple Superannuation Companies for multiple employees.

  • Subscribe / upgrade to the Xero Premium 10 account
  • Fill out the Automatic Superannuation Payment form direct debit form and mail to Xero
  • Process all employee superannuation payment in one swoop! No duplicate entry of data
  • Nominated Authorisor will approve the payment
  • The payment details are sent off to the Clearing House
  • The Clearing House will direct debit the total superannuation amount payable and distribute payments to your employee super funds

 

Option 2 – Using Small Business Superannuation Clearing House:

The Small Business Superannuation Clearing House (SBSCH) is a free service for employers with 19 or fewer employees. Employers are able to pay a single payment to the clearing house, which will distribute the payment to their employee super fund/s. The clearing house administers this service.

  • Register with the Small Business Superannuation Clearing House:
  • Login and enter your default super funds details
  • Enter each employees’ details
  • Enter the super funds details for each employee
  • Enter the super amount payable for each employee for the period
  • Pay the total super amount via BPay OR EFT
  • The clearing house will distribute the funds
  • The date the clearing house accepts your payment is the date your super guarantee contributions are considered ‘paid’
  • You have 21 days to pay your employee’s super to their choice of fund

Small Business Clearing House Video Tutorials:

https://www.youtube.com/playlist?list=PL5-ESUNqws-NXzhyIunMOsX2YESb1N0ef

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Superstream Compliant