The Accounting Department Blog

Using an online superannuation clearing house

Superannuation laws are always changing. As a business owner, it can be difficult to keep up to date with these changes in legislation, on top of the myriad of other duties and responsibilities. This is particularly the case in recruitment on-hire businesses, where a large turnover of temporary staff can result in larger companies having to pay superannuation into more than fifty different super funds each and every pay run. This, along with the fact that individual employee incomes can vary each pay cycle due to factors including commissions and salary sacrificing, means that the process of paying superannuation becomes a very complex and time-consuming task for your payroll team. This is why we use Kinetic Super to standardise and manage superannuation processing for each of our clients.

Here are a few of the reasons why we love Kinetic:

  • Being a clearing house, Kinetic allows us to make one single online payment on each client’s behalf that will then be distributed between their employees’ individual super funds. All we are required to do is to register with Kinetic the superannuation preferences of each employee and they will automatically be paid the correct amount of superannuation each pay period.
  • Kinetic gives us the systems that allow us to take care of both the obligations of your business and you personally as a Director. This gives you peace of mind knowing that your superannuation has been accurately processed and paid, and you won’t be receiving any nasty surprises in the mail!
  • If you nominate Kinetic Super as your company’s default super fund, the clearing house is free for you to use
  • Responses to all superannuation queries are fast and accurate
  • The Kinetic team provide helpful information from both an employee and employer perspective

At The Accounting Department we stay up to date on all changes regarding superannuation and we ensure that your super obligations are professionally managed and accurately and efficiently processed on time, so that you don’t have to worry about it.

For information on superannuation legislation, please visit the ATO website.
For information on Kinetic’s Super Clearing House please click here.

I am delighted that Kinetic Super have joined us as a sponsor of Recruitment Yarns, a national roadshow hosted by some of the recruitment industry's most well-known identities and industry partners. For more information, please visit www.recruitmentyarns.com.au

Posted By: 
David Payne