2012

A Clearing House is a solution which enables employers to make superannuation payments and pass data securely to multiple super funds through one simple transaction.

They can assist with:

  1. Compliance with ATO obligations
    Making sure Super Guarantee (SG) contributions get to the receiving fund by the 28th day following of the relevant payment period (i.e. 28 April for a 31 March quarter end) 

    Administration of “Choice of Fund” obligations for “default” and “choice” employees

    Updating superannuation records including for new employees, terminating employees and changes of member details (salaries, addresses, TFN’s, etc)
  2.  Reduced error rates and re-work associated with monies returned from super funds. This can be achieved through cross checking and advance warning protocols before payments are made
  3. Integration with employers payroll software and the registry systems of the receiving super fund
  4. Record keeping and reporting for audit purposes

From 1 July 2014, the SuperStream changes will require all employers with a payroll exceeding 20 employees to make super payments and advise new super members electronically in a standard data format. Clearing House services will be an integral component of meeting the requirements of SuperStream in discharging an employer’s “Choice of Fund’ and “Super Guarantee” obligations.