SMEs get free super assistance
The Government’s new superannuation clearing house will be free for small-to-medium business enterprises (SMEs).
The $16 million facility, which is set to open on July 1 next year, will be free of charge to businesses with less than 20 employees, Superannuation Minister Nick Sherry said last week.
Businesses obliged to make superannuation payments to multiple funds as a result of the super fund choice regime will be able to pay their contributions to the clearing house, which will distribute them to the respective funds.
The $16 million facility, which is set to open on July 1 next year, will be free of charge to businesses with less than 20 employees, Superannuation Minister Nick Sherry said last week.
Businesses obliged to make superannuation payments to multiple funds as a result of the super fund choice regime will be able to pay their contributions to the clearing house, which will distribute them to the respective funds.