Super for Employers
Here to make your life easier with Super when you need it most.
Looking for the following?
|Crescent Wealth Superannuation Fund (CWSF)|
CWSF Australian Business Number (ABN) and Unique Superannuation Identifier (USI)
CWSF Superannuation Product Identification Number (SPIN) number
|71 302 958 449 (001)||CFL0009AU|
Important Information for Employers regarding SuperStream and new rules regarding payments of superannuation contributions.
- SuperStream is part of the Australian Government’s Stronger Super reform which requires employers to make super contributions on behalf of their employees by submitting payments and associated data electronically.By the 30th June 2016 all employers must use a SuperStream compliant payment system when making super contributions. For more information, please read the following document: CLICK HERE.
Paying Super Contributions via Cheque into the CWSF?
- Please Remember to write the employee/s member number/s that the cheque is made for on the back of any lodged cheques. Please provide a completed remittance advice form located below detailing to whom and how much each employee is to receive.
- Make cheques payable to: Crescent Wealth Super Fund
- Please Send Cheques and Remittance Advice forms to: Reply Paid 88577, Melbourne VIC 8060 OR email it to email@example.com
- Please Note: A cheque is banked on the day of receipt as long as it’s sent with the correct Remittance Advice or reference number.
Paying Super Contributions via EFT into the CWSF?
- Account Name: Crescent Wealth Superannuation Fund
- BSB: 012 003
- Account No: 836 262 043
- Description (IMPORTANT): You MUST include the Crescent Wealth Super Fund Membership Number (e.g. CWSFxxxxxx) of who the Super Contribution is for (i.e. Your Employee). If paying for multiple Super members in one payment, then please make the description your Company Name and send through a remittance advice, detailing who each of the Super Contributions are for, to either of the addresses below.
- Please Send Remittance Advice forms to: Reply Paid 88577, Melbourne VIC 8060 OR email it to firstname.lastname@example.org
Important Docs for Employers
- Please email this completed form to email@example.com whenever you submit Super Contributions via EFT or Cheque.
- OR you may post remittance forms to Crescent Wealth at: Reply Paid 88577 Melbourne VIC 8060
Employer Notice Form (Pay my Future Super Contributions into Crescent Wealth).
Form for when an employee joins Crescent Wealth (new members also receive this via email when they complete their membership application online).
CWSF Compliance Statement
The Crescent Wealth Superannuation Fund (ABN 71 302 958 449) is an Australian resident regulated superannuation fund within the meaning of the Superannuation Industry (Supervision) Act 1993 (“SIS Act”). The Fund holds a Registrable Superannuation Entity Registration Number (R1075182). The Fund is a complying superannuation fund within the meaning of the SIS Act and has never received a notice of non-compliance from the Australian Prudential Regulation Authority. The Fund is able to accept superannuation contributions for eligible persons. These contributions are maintained and subsequently paid only in accordance with the Superannuation Industry (Supervision) Regulations 1994. The Fund is not subject to a direction under section 63 of the SIS Act. The Fund has never previously been subject to a direction under section 63 of the SIS Act. The Fund offers insurance cover that meets the minimum requirements set out in the Superannuation Guarantee (Administration) Act 2002, of a fund to be offered by an employer where an employee does not choose a fund. The Trustee of the Fund is Diversa Trustees Limited (ABN 49 006 421 638, RSE Licence L0000635 and AFS Licence 235153). Please note that effective from 1 July 2016, ‘The Trust Company (Superannuation) Limited’ name has changed to ‘Diversa Trustees Limited’.
Employer FAQs and Useful Information
Are you an investor looking for customer FAQ’s? Click here – Our General FAQ page may have the information you’re looking for.
1. What makes Crescent Wealth Super a quality choice for my employees?
- Every investment we make is compliant with our ethical principles.
- We offer personalised services and provide you a dedicated relationship manager for your business.
- We offer educational seminars and programs across Australia to improve financial literacy – want us to speak at your work place? Get in touch today! 1300 926 626
- We give back to communities right around Australia into programs that benefit people and our future generations.
These are just some of the reasons why employers from all industries choose Crescent Wealth.
2. How do I make a payment for an employee who hasn’t provided their member number?
You can either give us a call on 1300 926 626 and we’ll provide you the appropriate number.
OR If your employee has not provided you with their Crescent Wealth member number, you can still make payments for them as long as you have these details when you make your first payment:
- Full name
- Date of birth
- Tax File Number
3. What is the current Superannuation Guarantee (SG) rate?
Currently, the SG contribution rate is 9.5% of an eligible employee’s ordinary time earnings (OTE) and must be paid into a complying fund. If your employees work under a specific industrial award or agreement, you’re also obliged to contribute in accordance with that award or agreement.For example, you may be required to make additional contributions or to pay those contributions to a specific fund. The SG rate will increase each year until it reaches 12%. However, the Government now proposes that it remain at 9.5% until 30 June 2021 and then increase by 0.5% each year until it reaches 12% on 1 July 2025. The current SG rates are set out below:
|Financial year||Current SG Rate|
|From 1 July 2014 to 30 June 2021||9.5%|
|1 July 2021 to 30 June 2022||10%|
|1 July 2022 to 30 June 2023||10.5%|
|1 July 2023 to 30 June 2024||11%|
|1 July 2024 to 30 June 2025||11.5%|
|1 July 2025||12%|
4. What are the Super Contribution / Super Guarantee (SG) payment deadlines?
The Superannuation Guarantee (Administration) Act 1992 (the Act) requires employers to make SG contributions on (at least) a quarterly basis or you may incur an SG charge.
The SG Act requires contributions to be made by the 28th business day following the end of each calendar quarter (that is, by 28 July, 28 October, 28 January and 28 April).
|1 July – 30 September||28 October|
|1 October – 31 December||28 January|
|1 January – 31 March||28 April|
|1 April – 30 June||28 July|
When a cut-off date for payment falls on a Saturday, Sunday or public holiday, you can make the payment on the next business day.
If you don’t meet these deadlines you may have to pay the required amount, plus interest and an administrative penalty imposed by the Australian Tax Office (ATO) the following month. Other penalties may also apply. We encourage our employers to make payments monthly so they never have to worry about missing the SG deadline.
5. Who do I have to contribute for?
If you are an employer, you have to pay super if your employee(s) earn at least $450 gross per calendar month. The main exceptions are employees who are:
- Under 18 years of age and working less than 30 hours per week.
- Performing work of a private or domestic nature for not more than 30 hours a week for a non-business employer.
Please note: You may still be required by a Federal or State award, Industrial Agreement or Employee Contract to pay super for the above employees. It’s important to investigate your particular circumstances in relation to your employees.
6. What is SuperStream?
SuperStream is a package of Australian Government reforms designed to make our superannuation system easier to use. It’s part of the Government’s broader Stronger Super reforms.
As an employer, SuperStream will help simplify the way you make contributions for your employees and streamline data processing. New Superannuation Data and Payment Standards, jointly created by the Australian Government and Australian Tax Office (ATO), will help achieve this. New standards will apply from 1 July 2014, so employers with 20 or more employees will be required to make super contributions electronically. For employers with less than 20 employees, the new standards will apply from 1 July 2015.
7. I have an employee who is making extra contributions through salary sacrifice and/or after-tax contributions, how do I record this?
Before-tax (salary sacrifice) contributions are treated for tax purposes as employer contributions, so it’s important to identify them on your contribution advice. After-tax (voluntary) contributions must also be identified on your contribution advice so your employees aren’t taxed again on these contributions. For details on how before and after-tax contributions are defined, visit https://www.moneysmart.gov.au/superannuation-and-retirement.
8. What about tax file numbers (TFNs)— what are my obligations as an employer?
When an employee provides you with their TFN for employment purposes, you’re required by law to provide it to their super fund. If a TFN is not supplied when paying Super for your employee, their Super contributions may be taxed by the ATO at the highest marginal rate. So it’s important to include it with your next contribution advice.
9. What ATO obligations do Employers need to be aware of?
The ATO has prepared a guide for employers. Visit the employer section of ATO website for more information.
10. Where can I find forms and publications to help with my super admin?
We’ve made it easy for you to find what you are looking for by putting them all in the one place. You can find them above on this page in the Important Docs for Employers section.
11. How can I keep up-to-date on changes to super that affect employers?
- Visit the Super – what employers need to know page on the ATO website
- Read our quarterly investment newsletters