Make sure you are using the correct link to access SBSCH by visiting Superannuation Clearing House - Logon. You can bookmark this link as a favourite.
Some internet searches are returning an old link to the small business superannuation clearing house (SBSCH).
Make sure you are using the correct link to access SBSCH by visiting Superannuation Clearing House - Logon. You can bookmark this link as a favourite. On Monday 21 and Tuesday 22 September 2015, you may have received a myGov AS Notification message that advised you that you have a high instalment rate or amount that does not reflect your circumstances.
The ATO has incorrectly notified you that you have a high PAYG instalment rate or amount. Only the notifications on 21 and 22 September 2015 are incorrect. The generated activity statement has the correct details and reporting obligations. We expect all affected clients to receive a new notification to their myGov Inbox on Friday 25 September 2015. This apologises and explains what has occurred. ATO last updated: 24/09/2015 The ATO has updated their website on explaining Personal Services Income (PSI). Here is a brief snippet:
When working out if your income is PSI, you need to look at the income received from each separate contract. The terms and conditions of the contract, as well as invoices and written agreements (which show the arrangement for the work), are important in working out if the income is PSI. Calculate what percentage of income from each job was for:
If more than 50% of the income received for a contract was for your labour, skills or expertise, then all income for that contract is PSI. If 50% or less of the income received for a contract was for your labour, skills or expertise, then none of the income for that contract is PSI. For further details please click here. PSI can apply limitations on what deductions you can claim and can also prevent you from paying wages to related people. If you think you may be affected by this we recommend that you call us today so we can discuss this further with you. When you are considering on starting a new business you should always consider your options. We recommend that you talk to Rosanne about your options too. She will consider all options for your specific position.
Here is some additional information the ATO has prepared - please have a read through and if you have any questions we will be happy to assist you. |
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