ATO takes over Superannuation Clearinghouse

THE TAX Office will soon take charge of the Small Business Superannuation Clearinghouse in an effort to cut red tape for employers when they process super payments for workers.

Small Business Minister Bruce Billson announced the clearinghouse would move to the ATO as part of the government's election promise to reduce $1 billion of red tape.

It is part of the Department of Human Services and will move by April.

Mr Billson said the move would mean small business owners operating businesses with 19 employees or fewer would now be able to use the clearinghouse directly through the tax office.

For eligible businesses, the clearinghouse replaces the need to process an individual super payment for each worker and instead allows business owners to pay contributions in a single transaction.

Mr Billson said the change followed consultation with the small business sector about cutting compliance costs for employers.

While some 750,000 small businesses are eligible to use the clearinghouse, it has only had 48,000 employers register so far.

Mr Billson said to help make it easier for the sector; the ATO will soon release an "app" to allow owners to check a raft of employment details and superannuation information from their mobile phones.

The app will also allow small business operators to check information on payment plans for tax debt and find out whether their worker was an employee or a contractor for tax purposes.

What's on: Gig guide

What's on: Gig guide

Check out what's going on in the live music scene across the Tweed.

Check out this week's Tweed Link

Check out this week's Tweed Link

Find out what's on council's agenda

Labor promises to rollout protection plan for aged care

Labor promises to rollout protection plan for aged care

NSW Labor will establish an ombudsman service for aged care

Local Partners