Depending on your work arrangement, super can be paid in different ways. Below are payments methods for those that are employees or self-employed.
For Full-Time, Part-Time or Casual Employees
Your employer will need the below information to transfer your Super Guarantee into your Crescent Wealth Super account.
Fund Name: Crescent Wealth Superannuation Fund (CWSF)
CWSF Australian Business Number (ABN): 71302958449
Unique Superannuation Identifier (USI): 71302958449001
CWSF Superannuation Product Identification Number (SPIN) number: CFL0009AU
Your employer may require a copy of our Compliance Statement. You can find it on the Pay My Super & Compliance Letter linked below.
QuickSuper, our SuperStream Solution
Employers are required to make super contributions on behalf of their employees via a SuperStream compliant system – which submits payments and associated data electronically.
If your employer has not registered for a SuperStream payment system, they are able to register for Crescent Wealth’s online payment solution, QuickSuper, here: https://clearinghouse.mercerfinancialservices.com/ApplicationIntroductionView
QuickSuper* is a clearinghouse and is our online payment solution. A clearinghouse is an electronic gateway that allows employers to make all their super contributions for all employees in one single payment (even if they’re not with Crescent Wealth). It’s suitable for all types of businesses and is free to use.
If your employer is registering as a new employer, please see instructions under “How to self-register as an employer”.
If there’s any trouble registering, please contact our Employer Support Team on 1300550423 available between 9 am and 5 pm AEST Monday to Friday or by email on email@example.com
* QuickSuper is managed by Westpac and is not the responsibility of Crescent Wealth. QuickSuper is a registered trademark and a product owned and operated by Westpac Banking Corporation ABN 33 007 457 141. Westpac’s terms and conditions applicable to the QuickSuper service are available after your eligibility for the free clearing house service is assessed by Crescent Wealth. A Product Disclosure Statement (PDS) is available from Westpac upon request
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 Equity Trustees Superannuation Limited (ABN 50 055 641 757, RSE Licence L0001458 and AFS Licence 229857).
For Self-Employed Persons
If you’re self-employed – that is, a sole trader or a partner in a partnership – you don’t have to make super contributions to a super fund for yourself. However, you can add super as a way of saving for your retirement.*
Personal Contributions via BPAY
You can make personal contributions into your account via BPAY.
The BPAY biller code and your reference number is available in your online account. Click on the circle icon next to your name > Personal Details > Scroll to the bottom of the page.
If you’re having trouble locating this information, please contact our Helpline Team on 1300 926 26.
Do note, an annual contribution cap applies to personal contributions and if you breach this cap, you may be required to pay additional tax. For more info regarding contribution caps, please refer to the ATO website here.
Claiming a Tax Deduction for your Personal Contributions
If you’re self-employed, you may be eligible to claim a tax deduction for your personal super contributions.
For more information, please refer to the ATO website here.
If you are eligible and wish to claim a deduction for your personal super contributions, please submit a Notice of intent to claim or vary a deduction for personal contributions form (NAT 71121). You can only claim once you receive an acknowledgement from us. To see if you’re eligible to claim a deduction, please see ATO eligibility criteria here.
This web page contains information which is general in nature and does not take into account your speciﬁc objectives, ﬁnancial situation or needs. It is important that you consider the appropriateness of this information with regard to your ﬁnancial objectives and personal situation. Before making any decisions in relation to the Crescent Wealth Superannuation Fund, you must read the Product Disclosure Statement at crescentwealth.com.au/super.
FAQs by Employers and Useful Information
As an employer, you can make Super Guarantee Contributions (SGC) via your chosen SuperStream compliant payment system. If you don’t already have a system, you can register for our recommended Clearing House, QuickSuper here.
To make contributions to your employee(s), you will require:
- Your employee’s Crescent Wealth member number
- Crescent Wealth Super Fund USI: 71302958449001
If you have any trouble registering for QuickSuper, please contact our Employer Support Team on 1300550423 available between 9 am and 5 pm AEST Monday to Friday or by email on firstname.lastname@example.org
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 obliged to contribute in accordance with that award or agreement.
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%|
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.
If you are an employer, you have to pay super if your employee(s) earn at least $450 gross per calendar month.
The 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.
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.
The ATO has prepared a guide for employers. Visit the employer section of ATO website for more information.