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June - Club Victoria Inc.

June - Club Victoria Inc.

The Eastern Golf

The Eastern Golf ClubWins club reception of the year!On Tuesday the 7th of May, 350 of Victoria’s finestwedding suppliers congregated at Leonda by theYarra to celebrate Achievement in Excellence atthe 15th Annual Bridal Industry Awards (The ABIA’s)The 2013 ABIA’s attracted over 6,000 past brides whowere invited to rate their best wedding suppliers andvenues based on the quality of product, quality of service,value for money and attitude of staff.Chairman of the ABIA, Mr John O’ Meara awarded TheEastern Golf Club as the Winner of Club Reception of theYear, beating the Clubs powerhouse, RACV Healesvillefor the first time in three years in this category.“The Eastern Golf Club team is extremely proud of thisachievement which is a true reflection of the qualitypersonalised services we provide our guests on everyoccasion at the Club. This award is a great sign of thingsto come with our team in full flight to continue oursuccess at our new course and clubhouse in Yering” -Peter Vlahandreas, Operations Manager.The ABIA’s are a much sought-after award for Australianwedding suppliers as they are determined by the votesof past brides. The Eastern Golf Club was nominatedfor an ABIA based on the quality of product, qualityof service, value for money and the attitude of the staffwho serviced the bride’s needs, before, during and aftertheir wedding day.18 CLUBConnect May/June 2013

With the Government’s Stronger Super reforms set to takeeffect over the coming months, there’s a lot of informationto take in for employers. Here HOSTPLUS answers someof the important questions.Super SuperWhat is Stronger Super?Stronger Super is a package of reforms designed to transformthe Australian superannuation system into a stronger and moreefficient system, with the aim of maximising retirement savingsfor members. Specifically, the Government is implementing thefollowing changes:• the creation of a simple, low cost default superannuation productcalled ‘MySuper’;• improving everyday transacting between employers and superfunds - making it easier, cheaper and faster, through ‘SuperStream’;and• strengthening the governance, integrity and regulatory settings ofthe superannuation system, including in relation to self-managedsuperannuation funds.So what is MySuper?Under the legislation, a MySuper product must have commoncharacteristics for comparison across funds, based on a few keydifferences – cost, investment performance and level of insurancecover.Why has MySuper been introduced?The array of complex features within superannuation productsmakes comparisons between products difficult and costly. MySuperproducts will have a simple set of product features, irrespectiveof who provides them. This simplification will allow comparisonbetween funds based on a few key differences — cost, investmentperformance and the level of insurance cover. It will also ensure thatmembers do not pay for unnecessary ‘bells and whistles’ they donot use.What effect will this have on my business?From 1 January 2014, your business will be required to makecontributions to a ‘MySuper’ compliant fund like HOSTPLUS foremployees who have not made a preferred super fund choice. Whenselecting your default fund, the greater simplicity and comparabilityof MySuper products will make it easier for your business to makethis choice.What is SuperStream?‘SuperStream’ is the name given to the package of measuresdesigned to improve the productivity of the superannuation systemand make the system easier to use. One aspect is that SuperStreamwill introduce a standard electronic process for recording andmanaging data and making superannuation payments, includingrollovers and regular contributions. Other aspects include reducingunnecessary duplication of member accounts across funds by firstly,using members tax file numbers to search for and identify multipleaccounts and secondly, by moving these accounts to the membersactive fund from any other inactive super funds.When do the new super data and payment standards come intoeffect?By 1 July 2014, employers with 20 or more employees on theirpayroll will need to send contributions in the new format, and by 1July 2015, all employers with less than 20 employees on their payrollwill need to send contributions in the new format.What are the benefits it will offer?• Employers can send contributions in a standard electronic format- no need to submit information to separate funds in different paperformats• Members will have contribution payments allocated to theiraccount electronically and the better quality data will result in lessinstances of lost super from incorrect or incomplete data being sentto funds• Member rollover benefit payments and standardised data willbe transferred between funds electronically, moving toward onecommon standard for data, payment method and messagingbetween all funds.What information is required on my employee contributionpayment?When making contributions on behalf of an employee, employersmust give the following information (provided the employee hasgiven you this information) to HOSTPLUS before or on the sameday you make the first contribution:• the employee’s full name• the employee’s date of birth• the employee’s TFN• the employee’s gender• the employee’s address.How will I know what I need to do? Do I have to do anythingnow? When will I need to start paying attention to the changes?HOSTPLUS is committed to keeping employers up to date withSuperStream developments. You’ll find the latest informationon our website at hostplus.com.au/strongersuper or via the ATOwebsite.From 1 July 2013, employers must include on employee payslips,the amount of super contribution, to whom they paid the supercontribution and the date when the payment was actually paid.By 1 July 2014, employers with 20 or more employees on theirpayroll will need to send contributions in the new format, and by1 July 2015, all employers with less than 20 employees on theirpayroll will need to send contributions in the new format.Not with HOSTPLUS?It’s easy to join by calling us on 1300 HOSTPLUS (1300 467 875) orvisiting our website at hostplus.com.au.The information in this article is general in nature and does notconsider any of your objectives, financial situation or needs. Beforeacting on this information, you should consider obtaining advicefrom a licensed financial adviser and consider the appropriatenessof this information, having regard to your particular investmentneeds, objectives and financial situation. You should obtain a copyof the HOSTPLUS Product Disclosure Statement and consider theinformation contained in the Statement before making any decisionabout whether to acquire an interest in HOSTPLUS. Issued by Host-Plus Pty Limited ABN 79 008 634 704, RSE No. R1000054, AFSL No.244392, MySuper No. 68657495890198 as trustee of the HOSTPLUSSuperannuation Fund ABN 68 657 495 890, RSEL No. L0000093.CLUBConnect May/June 2013 19

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