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Checklist web results test

 

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Your results

 

First Super’s Business Super Checklist

Thank you for completing First Super’s Business Super Checklist. You will find your results below, along with some useful links.

One of our Business Development Managers will be in touch with you shortly to discuss your results.

 

 

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Current super arrangements

1. Have you selected and set up a default fund?

UNSURE
Not sure who your default super fund is? Our BDM can discuss this with you when they speak to you.

2. Is your default super fund compliant?

YES
Well done, you’re fulfilling an important part of your superannuation obligations. Your default fund should be a complying fund, which meets its obligations under the Superannuation Industry (Supervision) Act 1993 and to the Australian Tax Office (ATO). Find out more about default funds here.

3. Does your default fund pass the performance test?

UNSURE
Not sure if your default super fund passes the compliance test? Our BDM can show you how to work out if it does.

4. Does your fund have a Relationship Manager you can contact for any super related queries?

UNSURE
Not sure if you have a Relationship Manager at your current super fund? Not all super funds have relationship managers but it’s possible you’ve lost the contact details for yours – contact your super fund directly to find out.

 

 

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Education and advice

1. Are you and your employees provided with regular updates about superannuation?

UNSURE
Not sure if you or your employees are provided with regular updates about super? Providing information on changes to superannuation as well as education for members and employers is an important service for you and for your employees. Ask your Relationship Manager at your current super fund for more information on what they offer.

2. Does your super fund offer onsite super education for you and your employees?

YES
Great! Not all super funds offer onsite super education for you and your employees. These sessions should be tailored to the area of superannuation you or your employees have questions about and be able to be scheduled at a time that suits you, not the super fund. If you don’t think that your super fund’s education options are working for you and your employees, talk to one of our BDMs about how First Super can help you.

3. Does your super fund provide personalised superannuation advice for your employees at no additional cost?

UNSURE
Not sure if your current super fund provides personalised superannuation advice for your employees at no additional cost? Ask your Relationship Manager for more information on what they offer.

 

 

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Your employees’ super

1. Do you know which employees are eligible for super?

UNSURE
Not sure which of your employees are eligible for super? Our BDMs will be able to discuss this with you when they speak to you.

2. Do you know how much super must be paid to each employee?

YES
Unless covered by an industry agreement, you’re paying your employees a minimum of 11% super guarantee. It’s great that you’re doing this, as it means you’re helping contribute to your employees’ retirement savings. You probably know, but this amount is increasing on 1 July each year until 2025 – find out more here.

3. Do you have to pay multiple super funds?

UNSURE
Not sure how many super funds you’re having to pay? Our BDMs will be able to discuss a potential solution with you.

4. Are you paying your employees’ superannuation on time?

UNSURE
Not sure if you’re paying your employees’ super on time? Our BDMs will be able to discuss this with you when they speak to you.

5. Are you providing your new employees with a superannuation standard choice form?

UNSURE
Not sure if you’re providing your new employees with the correct form? Our BDMs will be able to discuss this with you when they speak to you.

6. Are you providing your employees’ Tax File Numbers (TFNs) to their super funds?

UNSURE
Not sure if you’re providing your employees’ TFNs to their super funds? Our BDMs will be able to discuss this with you when they speak to you.

 

 

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Super and your business

1. Are you keeping the right records?

UNSURE
Not sure if you’re keeping the right records? Our BDMs will be able to discuss this with you when they speak to you.

2. Have you checked your company details are up-to-date?

YES
That’s great – this means your default fund can contact you and provide you with important information about changes to superannuation as they occur. Generally, your super fund would like to know if any of the following change:

  • the contact person at your company
  • the trading name of your business
  • your telephone number, mobile phone number, and/or your postal or email address
  • the nature of your business.

3. Are you claiming your tax deductions?

UNSURE
Not sure if you’re claiming your tax deductions? Our BDMs will be able to discuss this with you when they speak to you.

4. Would you like to compare your current default super fund to First Super?

UNSURE
It’s important to compare your current default arrangements from time-to-time to ensure they are still the most suitable for your current situation. Comparing your current default super fund with First Super is a quick and easy process that our BDMs will be able to help you with.

 

 

Additional links you may find useful:

Disclaimer 1 First Super Regional Coordinators and Member Services Team can provide general advice only. 2 First Super Financial Planners are authorised representatives of Industry Fund Services Limited (ABN 54 007 016 195, AFSL 232514) and can provide personal advice tailored to your objectives, financial situation and needs. Issued by First Super Pty Ltd (ABN 42 053 498 472, AFSL 223988), as Trustee of First Super (ABN 56 286 625 181). Past returns are not an indicator of future returns. This page contains general advice which has been prepared without taking into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and read the Product Disclosure Statement (PDS) before making any investment decisions. To obtain a copy of the PDS or Target Market Determination please contact First Super on 1300 360 988 or visit our PDS & Publications page. This email may include confidential information. If you are not the intended recipient, you must not use, disclose, retain, forward or reproduce this message or any attachments. If you receive this message in error please notify the sender by return email or telephone and destroy and delete all copies.