Small Business Superannuation Clearing House (SBSCH) – Key Dates
As we approach the end of the year, the ATO Small Business Superannuation Clearing House (SBSCH) will close from the 23rd December 2022 and re open 3 January 2023.
Key dates you need to be aware of are as follows:
- 5:30 pm AEDT on 14 December 2022 – all Super guarantee (SG) payments with instructions received after close of business on this date will be processed from 3 January 2023
- 28 January 2023 – SG quarterly payments are due.
Steps to ensure you are prepared for your SG payments:
- Work out how much super you need to pay for all your employees;
- Access the clearing house through Online services for business or ATO online services;
- Enter instructions about how to distribute payment to each employee’s super fund, noting the payment reference number (PRN);
- Make a single electronic payment to the clearing house for all your employees including the PRN.
- The clearing house distributes the payment to each employee’s super fund according to your instructions.
Note: Payments can take up to 7 business days to be transferred through the ATO and super fund before they reach the employee’s super fund account.
Should you have any questions or would like to discuss this article further, the team at Gerard Wilkes & Associates are here to help. Do not hesitate to contact us at https://www.wilkes.com.au/contact-us/ or call our office 07 5532 1733.