On 26 February 2018, the SBSCH service will move to the Tax Agent Portal / Business Portal Environment. Ascend outlines how will this affect your business.
Who This Affects: Any businesses (including strata companies) who pay superannuation via the ATO's SBSCH
On 26 February 2018, the SBSCH service will move from from it's current stand-alone website to the Tax Agent Portal / Business Portal environment.
To manage the transition, the SBSCH will be unavailable from Tuesday, 20 February 2018 to Sunday, 25 February 2018 inclusive. During this time the Australian Taxation Office (ATO) will be transferring data across to the new system. Super contribution payments prior to this outage must be made via the old system. Super contribution payments after this outage will need to be made via the new system.
What do you need to do?
- If you already take advantage of Ascend's payroll and superannuation services to manage your and/or your clients' superannuation - nothing needs to change from your point of view.
- If you currently use the SBSCH to administer your business's superannuation, then you must obtain an authentication credential (either an AUSkey or Manage ABN Connections via myGov) to login to the Business Portals and access the new system.
- If you currently use the SBSCH in-house to administer your clients' superannuation obligations then you may inadvertantly be in breach of the Tax Agent Services Act unless you are a registered BAS or Tax Agent with the Tax Practioners Board. See Tax Agent Services (Specified BAS Services) Instrument 2016 for more information (particularly Section 7 (a),(b) & (c)).
Please note that the super guarantee quarterly contribution deadlines remain unchanged, and the next payment date is 28 April 2018 for the March quarter.
For more information, see the ATO's SBSCH Decision Tool to learn what you need to do to ensure compliance. Alternatively, please contact the Ascend office if you'd like to discuss taking advantage of our business services options in regards to superannuation (for either your clients or your own business).
The above content is of a general nature and should not be relied upon as professional advice. Ascend encourages readers to seek advice from suitably qualified professionals in relation to their specific circumstances and not to rely solely on the information provided above. Please contact our office for more information.
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