In this episode of BK Pod, the focus is on the practical realities of Payday Super and the growing operational pressure it places on BAS Agents and bookkeepers. Rather than discussing legislation in theory, the episode explores the real-world issues practitioners are already facing as the ATO Small Business Superannuation Clearing House (SBSCH) moves toward closure and super obligations shift into a much tighter payroll cycle.
The discussion highlights the key pain points BAS Agents need to prepare for, including managing multiple clients, rejected super payments, contractor super obligations, SMSFs, client approvals and the challenge of tracking super payments through to final receipt by the employee’s fund. The episode also examines why BAS Agent access to SGC accounts becomes increasingly important under Payday Super, particularly as the ATO is expected to issue more SGC assessments under the new framework.
The episode finishes by looking at the importance of stronger workflows, better visibility and improved record keeping, along with a discussion around
Wrkr as one possible clearing house solution for clients transitioning away from the ATO SBSCH.
Key Takeaways
- The SBSCH closure means BAS Agents need to identify affected clients now.
- Payday Super creates significant workflow and timing pressure across payroll processes.
- Rejected payments, contractors and SMSFs remain major risk areas.
- BAS Agents need visibility over payment status, reporting and evidence trails.
- SGC account access will become increasingly important under Payday Super.
- Strong workflows and client processes will be critical to reducing compliance risk.
What is BK Pod?
Technical. Reliable. Fun.
BK Pod brings you the latest bookkeeping news, industry updates and conversations with industry leaders, Kelvin Deer, Peter Thorp, Kellie Powell and Darren Hagarty. From technical content to current events, BK Pod is an easy to listen to audio experience, packed with essential updates and insights for our bookkeeping community.