Learn about your super responsibilities as a business owner. We have provided you with all the important information you need to know about super and your business.
Super and your business
What does super mean for business?
Super Guarantee (SG) is a compulsory contribution which all employers need to make on behalf of each of their eligible employees. Employer contributions are paid directly to each employee's nominated super fund, or a default fund on their behalf. The Superannuation Guarantee (SG) legislation was created to help Australians with saving for their future retirement.
Why is it important to pay super contributions?
Super is one of the biggest financial investments your employees will ever make. It’s money saved throughout their working life, and invested so they’ll be better off when they retire.
Who gets super?
Employees that are eligible for super include workers that are 18 years or over and earn a minimum of $450 (before tax) in a calendar month, regardless of how many hours they work.
Employees under 18 years old must earn a minimum of $450 (before tax) and work more than 30 hours per week.
How does Rest invest its super?
A member can choose from a range of investment options; if a member doesn’t make a choice, we'll invest their super in our MySuper product – the Core Strategy investment option. In addition to investing our members money across different investment markets using a range of asset classes and investment strategies we consider environmental, social and governance (ESG) factors in the process.
Do I need super as a business owner?