Employer Super

Assisting businesses with employer super obligations.

Employer super funds can provide extremely lucrative benefits for your employees. They can also be a key factor in attracting and retaining your staff.

By combining their buying power, members of the fund can achieve significant fee reductions, member rebates, and discounted group insurance rates. These savings can amount to thousands of dollars per annum for each employee.

The other benefit to the employer is that having most, if not all, of your employees using the one fund will take a significant amount of time, and hopefully cost, out of the process of meeting your superannuation obligations. Because as a business owner, you must meet compulsory superannuation obligations for your employees.

The Superannuation Guarantee is the minimum amount of super you need to pay which is based on 9% your employee's 'ordinary time earnings' - or the amount of hours they normally work. You need to fulfil your super obligations to your employees on a quarterly basis to avoid penalties.

Director's Penalty Regime

Furthermore, the Director‘s penalty regime has been extended to include the superannuation guarantee. This means that directors will be held personally liable for their companies’ failure to pay employee superannuation. So, in the same way that the ATO issues a Penalty Notice for unpaid PAYG tax and a director becomes personally liable for the penalty at or before the due date for payment, the same regime now affects directors of companies who fail to pay the superannuation guarantee charge (SGC).

Countplus mbt has been assisting businesses with employer super obligations for over 15 years. We help to determine the best employer super fund for you and your employees, using our own buying power to obtain lucrative benefits for members of the fund. We then assist you and your staff in establishing and managing the plan.

We also provide an important point of contact for your employees, providing them with professional advice on issues such as salary sacrificing, insurance etc.

To discuss how we can help you with your employer super contributions, please contact your Countplus mbt financial adviser for an obligation free meeting.