CLEARING HOUSE

The introduction of ‘Choice of Fund’ has seen more employees choose their own individual fund.  For employers, this has resulted in an increase in the administration of contribution payments and payroll deductions.

WHAT IS A CLEARING HOUSE?

A clearing house helps solve administrative headaches for employers. It enables employers to send one payment and one contribution form regardless of how many super funds your employees choose – the clearing house then distributes payments to each of the different funds.

ADP CLEARING HOUSE

Automatic Data Processing (ADP) is one Clearing House solution.  Their services include the clearing of all employee deductions such as health cover, social club, garnishees etc, where the payment is made electronically. 

For further information on how to access this service and information about applicable fees, please go to the ADP website, or contact one of Westscheme's Client Service Managers on (08) 9218 4000 or
1800 198 503.

MEDICARE CLEARING HOUSE

- a free service for businesses with fewer than 20 employees

The Federal Government’s much anticipated, free, superannuation clearing house will soon be a reality for eligible small businesses across Australia, after legislation was passed in May 2010.

The optional service, which is expected to begin accepting employer SG contributions from 1 July 2010, will help employers with fewer than 20 employees satisfy their choice of fund obligation more easily. 

Eligible employers paying contributions to multiple super funds will soon be able to make a single electronic payment to the Medicare Clearing House.  The employer will discharge their SG obligation once the Medicare Clearing House receives the correct amount.  The Medicare Clearing House will then forward the contribution(s)  to  the nominated fund(s).

To register, employers may submit their business details at www.medicareaustralia.gov.au/super from 24 May.  It is understood that once Medicare has accepted these details, login details will be provided allowing the employer to login and enter details of each employee and make subsequent super contributions.
To find out more visit www.medicareaustralia.gov.au/super