ATO Says Small Business Super Clearing House Issues Fixed

The ATO says it has fixed issues with the Small Business Superannuation Clearing House (SBSCH), and sought to reassure employers.

The Small Business Super Clearing House has had issues since it was moved from the Department of Human Services to the ATO’s systems in late February.

These issues resulted in superannuation contributions from small business not going through to the super funds of their employees, in some cases for weeks. The ATO did not detail the extent of the impact of the problems with the clearing house, but it has been reported as potentially affecting tens of thousands of employers.

Also as part of these issues, the ATO and APRA acknowledged that it may not be possible for super fund trustees to be “100%” in compliance with their obligations.

The ATO now says the issues have been fixed and the backlog of payments has been processed.

“We can now confirm that issues impacting the allocation of payments have been resolved and all payments are now with funds,” said an ATO statement.

“The backlog of payments has been cleared and the ATO does not hold any payments earlier than 16 April. The exception is a small number of payments requiring some manual intervention, such as where incorrect fund account numbers have been supplied. This is in-line with normal practice.”

The ATO also sought to reassure employers concerned that they may not have complied with their Super Guarantee obligations.

“We confirm that where an employer has made a payment to the SBSCH by the quarterly due date they are considered to have met their obligations under the Superannuation Guarantee (Administration) Act 1992,” said the ATO.

“This is irrespective of any delays in crediting amounts to employee superannuation accounts.”

“If employers are unable to make SBSCH payments by the 28 April quarterly due date because of difficulties arising from the transition to the new system, or access issues, we will not pursue the lodgment of super guarantee charge statements,” said the ATO, provided the employer had the funds to pay the SG liability by the 28 April due date, took all reasonable steps to make the payment and made the payment promptly once the ATO system and access issues were resolved.

By Luke Smith

Sole Purpose Test

27 April 2018

#FinancialPlanning #FrankingCredits #specialist #will #enduringpowerofattorney #smsf #law #estateplanning #Contribution #Retail #Fund #SMSF #Superannuation #Cap #Retiree #EPA #lawyer #Pension

Recent Posts

See All

ASIC Should Withdraw Its SMSF Factsheet

The Australian Securities and Investments Commission (ASIC) should withdraw its Self-Managed Superannuation Fund (SMSF) factsheet because it contains “an array of seemingly deliberate inaccuracies”, a

SMSFA Points To ASIC Fact Sheet Inconsistencies

The SMSF Association has criticised the corporate regulator’s focus on the risks of SMSFs in its mailout campaign targeting new trustees, saying the data sources used in its fact sheet are inconsisten