QHA_Review March_2021

SUPERANNUATION
with Brendan O’Farrell
INNOVATIVE SUPPORT IN TIMES OF CRISIS
It’s been pretty clear over the last few months that
the events of 2020 are far from over. Lockdowns and
ongoing domestic border closures continue to impact
businesses across Australia. Compounding these
issues is the fact that JobKeeper payments are due to
end, payroll tax is set to resume soon, and the super
guarantee rate is due to increase in July.
It’s understandable that many small businesses are
feeling uncertain about the increased cost of all these
changes and what the future will bring.
On the flipside, it’s been great to see companies
that are finding innovative ways to support the
hospitality industry while it manages the impacts of the
pandemic.
One example of this is an Australian wholesaler and
distributor who recently announced plans to establish
a warehousing solution for small distilleries and craft
brewers. The warehouses will store products from
multiple small suppliers in a single location.
The warehouses will then connect local bars and pubs
with craft distillers and provide a much simpler way to
purchase the assortment of products. It’s a great way
to support small brewers and craft beer, and for hotels
to attract new punters by adding more specialised
drinks to their range.
AT INTRUST SUPER, WE’RE ALSO DOING WHAT
WE CAN TO SUPPORT YOUR INDUSTRY. WE’VE
CONTINUED TO RUN VIRTUAL SEMINARS AND
PROVIDE EDUCATIONAL SESSIONS TO ASSIST
YOUR STAFF WHILE PHYSICAL ATTENDANCE AT
BUSINESSES IS LIMITED.
At Intrust Super, we’re also doing what we can to
support your industry. We’ve continued to run virtual
seminars and provide educational sessions to assist
your staff while physical attendance at businesses
is limited. We also made changes to our income
protection cover and our life and total and permanent
disability insurance to ensure better coverage for our
members during the pandemic.
In the coming months, some legislative super changes
are due to roll out. These rules could change the
way you pay and administer your staffs’ super. Many
businesses will need support to implement these
changes. If your payroll system doesn’t automatically
update with the new rules, managing the new
legislation could be a time-consuming and costly
process.
To be on the safe side, chat to our team before 1
July! Our free Business Super Health Checks, which
help businesses streamline their administration and
payroll processes, have been popular. During these
health checks, we can also prepare your payroll for the
changes and streamline your administration process.
The Business Health Checks take just 15-minutes
and could help you save valuable work hours for your
payroll and admin staff.
Talk to us about a free Business Super Health Check –
just email service@intrust.com.au or contact your local
Relationship Manager.
QHA REVIEW | 34
The opinions expressed in this column are my own and do not necessarily represent the view of Intrust Super.
The information contained in this document and the services referred to are of a general nature only, and does not take into account your
individual financial situation, objectives and needs. You should consider the appropriateness of the general information having regard to your
own situation before making any investment decision. For personal advice, please contact the Intrust360° financial advice team on 1300 001
360. A Product Disclosure Statement is available at www.intrust.com.au or call us on 132 467 for a copy.
Issued by IS Industry Fund Pty Ltd | MySuper Unique Identifier: 65704511371601 | ABN: 45 010 814 623 | AFSL No: 238051 | RSE Licence
No: L0001298 | Intrust Super ABN 65 704 511 371 | SPIN/USI: HPP0100AU | RSE Registration No: R100439
Intrust360° is our financial planning business (its legal name is IS Financial Planning Pty Ltd ABN 64 143 707 439). It’s a wholly owned
subsidiary of IS Industry Fund Pty Ltd ABN: 45 010 814 623. It’s also a corporate authorised representative of Link Advice Pty Limited ABN:
36 105 811 836 | AFSL: 258145 | Corporate Authorised Representative Number: 379207. M3.2.2.21.2