Depending on your work arrangement, super can be paid in different ways. Below are payment methods for contributions:
- by an employer for an employee;
- by a self-employed person.
For Full-Time, Part-Time or Casual Employees
Your employer will need the below information to pay Super Guarantee contributions into your Crescent Wealth Super account.
Fund Name: Crescent Wealth Superannuation Fund (CWSF)
CWSF Australian Business Number (ABN): 71302958449
Unique Superannuation Identifier (USI): 71302958449001
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: clearinghouse.mercerfinancialservices.com/ApplicationIntroductionView
QuickSuper* is a clearinghouse and online payment solution made available by the Crescent Wealth Super Fund’s administrator. 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 members of the Crescent Wealth Superannuation Fund). It’s intended to be suitable for all types of businesses and is free to use. Employers should satisfy themselves that QuickSuper is suitable for their business.
If an employer is registering as a new employer, they should refer to the instructions under “How to self-register as an employer”.
If there’s any trouble registering, please contact the Employer Support Team on 1300 550 423 available between 9am and 5pm AEST Monday to Friday or by email on firstname.lastname@example.org
* QuickSuper is a Clearing House service that is a financial product issued by Westpac Banking Corporation ABN 33 007 457 141 ("Westpac") and is made available to you at the request of Mercer Outsourcing (Australia) Pty Ltd (MOAPL) ABN 83 068 908 912, AFSL #411980, as administrator of the Crescent Wealth Superannuation Fund. Westpac terms and conditions apply to the Clearing House service which you will be asked to accept. Neither the Trustee (or its service providers acting on behalf of the Trustee) can provide financial advice about this service to an employer. Any information about QuickSuper in this form is general information only and does not take into account your objectives, financial situation or needs. Before making any decision to register to use QuickSuper, you should consider your objectives, financial situation or needs as well as Westpac's Product Disclosure Statement (PDS). The PDS is relevant when deciding whether to acquire or hold a product. The Trustee of the Crescent Wealth Superannuation Fund and service providers to the Fund do not recommend, endorse or accept responsibility for QuickSuper. Nor do they accept liability for any loss or damage caused by use of the QuickSuper service.
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 Guarantee contributions to a super fund for yourself. However, you can voluntarily make personal super contributions 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, and scroll to the bottom.
If you’re having trouble locating this information, please contact us on 1300 926 26.
Important note, annual contribution caps apply to personal contributions, depending on whether they are concessional contributions (because you claim a tax deduction for them) or non-concessional contributions, and if you breach the applicable 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
You may be able 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 by or on behalf of the Trustee of the Crescent Wealth Superannuation Fund. To see if you’re eligible to claim a deduction, please see ATO eligibility criteria here.
Personal contributions that are claimed as a tax deduction are treated as concessional contributions, which means they are (usually) subject to contributions tax of up to 15%. The tax may be higher in some circumstances.
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 should read the Product Disclosure Statement and any incorporated information 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 email@example.com
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.