What is a Holding Account for Gross PAYG and Superannuation (SG)?
A Holding Account is a bank account you have established specifically to transfer your Gross PAYG and Superannuation (SG) contributions as part of your FAST-Bank™ (.aba) file. This may be a “high” interest earning account with your Financial Institution.

What transactions does the Gross PAYG Holding Accounts retain?
The Gross PAYG Holding Account will retain ALL PAYG Amounts which include PAYG (Pay as you go Tax which applies to the current pay period once posted), HELP, SFSS and Additional Taxation amounts.

What transactions does the Superannuation (SG) Holding Accounts retain?
The Superannuation (SG) Holding Account can be set to EITHER Employer SG Only (9.50%) or ALL Superannuation Contributions which includes Employer SG (9.50%), RESC (over 9.50%), Concessional (before Tax) and Non-Concessional (after Tax) contributions from Version 19.50.

I’m already using FAST-Bank™ so where do I enter my Holding Account bank details to also disburse Gross PAYG and Superannuation (SG)?
Please follow Where do I set up a Holding Account for Gross PAYG (Tax)? and Where do I set up a Holding Account for Superannuation (SG)?.

I’m not yet using FAST-Bank™ so how do I get started?
Please follow Where do I set up FAST-Bank™ (in my Company)? and Where do I set up FAST-Bank™ (in my Employees)?.

Revision: 21
Last modified: 2019/04/30

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