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Getting started with First Super’s clearing house

December 15th, 2020

If you’re new to First Super, or you’ve never considered using a clearing house before, we explain why it can make your super administration quick and easy and ensure you meet the Government standards for super compliance.

How does a clearing house work?

A superannuation clearing house lets you make a single online payment to all your employees’ super funds. For example, if you have 20 employees with First Super and 10 with other funds, you only have to make a single electronic transfer to the clearing house and it will then redistribute the required amounts of superannuation guarantee (SG) to each of your employees. Easy.

What are the benefits?

If your employees do belong to different super funds, you’re juggling an administrative burden each pay cycle. And if their incomes change frequently due to shift loadings, salary sacrificing and more, you’re adding another layer of complexity to the process and increasing the likelihood of human error from your payroll team. A clearing house reduces both your burden and your risk.

What can the First Super clearing house specifically offer you?

  • It’s currently free for our employers.
  • It ensures you’re fully compliant with ATO and Government requirements, including SuperStream data and payment standards and access to Single Touch Payroll.
  • It’s simple to use.

Is the First Super clearing house suitable for all employers?

Yes, it is, however, if you’re a smaller employer with 19 or fewer employees and an annual turnover of less than $10 million, you could also opt to use the Australian Taxation Office’s Small Business Superannuation Clearing House instead. It’s free and specifically designed to cater for businesses of this size.

How can you sign up for First Super’s clearing house?

You can click here to register for First Super’s clearing house.

You’ll need the following information:

  • your company details
  • a contact person
  • your First Super employer number (you would have received this when you joined First Super as an employer).

Once your application has been processed, we’ll send you an email with all the details you need to set up your clearing house account.

More information

You can find out more about First Super’s clearing house on our website.

If you’d like help getting set up, call our Employer Services Team on 1300 943 171 or book a time with your local Member and Employer Services Coordinator.