…Alternative to MYOB M-Powered Superannuation
What is the Small Business Superannuation Clearing House?
From the website [http://www.medicare.gov.au/super]
The Australian Government is offering a free superannuation clearing house service to small businesses with less than 20 employees.
This service is optional and is designed to reduce red tape and compliance costs associated with meeting your superannuation guarantee obligations.
They’ve made it easier for you — employers can register online and when it’s time to make your superannuation contribution payments, this can be done in one transaction, Australian Government will do the rest. It’s that simple.
The Small Business Superannuation Clearing House makes superannuation payments simple. It’s fast, free and efficient — letting you get back to what’s important to your business.
What does this mean for you?
The service is available from July 2010, but you can register now.
It is only applicable for businesses with less than 20 employees
Super contributions made to numerous super funds will be electronically paid to a single location [the clearing house] which will process the transactions.
The free superannuation clearing house for small business is available through Medicare
The information available indicates that contributions can be made to any superannuation fund, it will be interesting to see if they can handle SMSF (Self Managed Super Funds)