Small Business Clearing House

Small Business Clearing House

The Small Business Superannuation Clearing House is a online superannuation payments service that helps small businesses with less than 19 employees meet their superannuation guarantee obligations.

This service was established to ease the burden on employers making superannuation contributions each quarter to numerous superannuation funds and reduce administrative costs.

The Small Business Superannuation Clearing House lets you pay your superannuation contributions in one transaction to a single location. It is designed to make this process easier, reducing red tape and compliance costs.

You simply register your employees’ superannuation fund details and we will distribute the contributions to their various superannuation funds.

GrainCorp Sale Blocked

GrainCorp Chief executive Alison Watkins has resigned as of Monday, days after the Federal Treasurer Joe Hockey denied a takeover bid from US food giant Archer Daniels Midland.

GrainCorp the biggest grain handler in Eastern Australia, has appointed chairman Don Taylor as the new Chief executive on an interim basis.

The sale would have left 60 percent of Australia’s wheat shipments controlled by 3 companies – Cargill, Glencore Xstrata & ADM.

Australian Institute of Management

Last week the members of Australian Institute of Management approved the merger of its state based divisions making it one of the nation’s most powerful membership based organisations.

This combines the AIM group’s branches from all states and territories other than Western Australia under one umbrella. There is now more than 18,500 members and 10 offices.

Previous to the merger the five divisions of AIM operated as separate legal entities each with its own board of directors.

Reserve bank

Reserve bank data has shown that small business are being stung by bank fees whilst big business seems to be getting of lightly. It shows that small businesses are paying up to 10 times more in bank fees than big business, with small

business paying as much as 2.0 percent in interchange fees for transactions that cost big business 0.20 percent, according to the RBA Payment Systems Board annual report.