19 November 2009

An Australian Federal Government superannuation clearing house service will be available for small businesses with less than 20 employees from July, 2010. The free service will be provided through Medicare Australia and is aimed to cut red tape.

To meet their choice of superannuation fund obligations, small businesses face the time and paperwork burden of paying contributions into numerous funds. The clearing house will cut this burden by enabling small businesses to pay their contributions electronically to a single location.