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FAQs
What happens if I miss the SG (Superannuation Guarantee) deadlines? Which of my employees can join BUSS(Q)? Can I pay my contributions on-line? How do I know who to pay super for? Can I pay quarterly? When do I pay my contributions? How do I pay my contributions to BUSS(Q)? How do I choose a default fund for a Choice of Fund? What records should I keep?
What happens if I miss the SG (Superannuation Guarantee) deadlines? You should contact your accountant and discuss the situation with them. Should you decide to make a late payment to BUSS(Q) we will accept the contribution and allocate to the member/s.
If at a later stage you are audited by the Tax Office and are required to pay the SG charge we may be unable to refund contributions that have been allocated to members accounts. Which of my employees can join BUSS(Q)? All your employees whether full-time, part-time or casual can join BUSS(Q). We have no restrictions on occupation or past-times. Can I pay my contributions on-line? Yes, refer to the section on E-Commerce:
Employers Administration Guide How do I know who to pay super for? The Australian Taxation Office (http://www.ato.gov.au/) has an excellent decision tool that helps employers in the building and construction industry determine whether a worker is engaged as an employee or independent contractor. It will give a decision based on answers to some simple questions. You will remain anonymous at all times and it will give you a report and a decision about the status of your worker. Building and Construction Industry Employee/Contractor Decision Tool When do I pay my contributions?
Contributions to BUSS(Q) are due and payable monthly. The Trustee of BUSS(Q) requires employers to contribute to the Fund each month. Payments for each month are due by the last day of that month with the Trustee allowing a grace period of up to 14 days. For example, contributions for the month of February, should be paid by 14 March to BUSS(Q). Can I pay quarterly?
Yes, you can pay quarterly as long as your employees do not work under an EBA or Workplace Agreement which require you to pay monthly. If you are deducting member voluntary payments these must be forwarded to BUSS(Q) before the 28th day of the month.
How to I pay my contributions to BUSS(Q)?
You have numerous options for paying your super contributions to BUSS(Q). You can pay on line or you can complete a paper contribution return and send this to us through the mail with a cheque. Paying on-line
BUSS(Q) gives you the option to register for our online system Employer Access. This will allow you to submit your contriubtion return information online.
When submitting your contribution return online, you have the following payment options: BPAY® - log onto your Internet banking site or call your phone banking service. Select the BPAY® option and follow the simple instructions. Record your receipt number. Electronic Funds Transfer (EFT) - where you transfer funds directly from your bank account into BUSS(Q) bank account. Self Initiating Direct Debit - this is a one stop shop where we set up your bank account details on our internal systems and each time you send through your contribution information online, this will trigger a payment to be sent from your bank account to BUSS(Q). However, if you do not confirm your details online, then nothing will happen. Completing a paper based contribution return
If you dont want to send through your contributions online, you can complete a paper contribution return, which we will send to you each month. Cheques - Cheques are to be made payable to BUSS(Q).
How do I choose a default fund for Choice of Fund? Before you nominate a fund as an employer fund (default fund), you need to check that it: - Is a complying fund.
- Offers the minimum life insurance coverage
You must nominate a fund for each employee, but the fund does not need to be the same for each employee. You can not have more than one employer fund per employee. You can provide factual information to an employee about: - Obligations under choice of superannuation fund, and
- What the employee can do to nominate a superannuation fund as their chosen fund.
However, as an employer you cannot give financial advice unless you are licensed to do so. What records should I keep? You need to keep the following records regarding superannuation contributions: - Details of employees who do not have to be offered choice of fund and why,
- Details confirming your employer fund meets insurance requirements,
- Records showing that Standard Choice Form has been provided to eligible employees,
- Information provided by an employee regarding their choice,
- Details of your superannuation guarantee payments,
- Details of how the payments were calculated for each employee,
- Dates that the contributions were paid,
- Details of the fund that the contributions were paid to for each employee.
Your must keep your records for five years.
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