Established in 1984, Cbus is an industry superannuation fund that originated in the construction, building and allied industries. It is also a ‘public offer' fund, able to offer membership to anyone working in any occupation or industry.
Cbus has Strength
As at October 2007, Cbus manages members' assets worth over $13 billion. This gives us considerable buying power, and means that we can keep fees low. The fund has more than 513,300 members and more than 61,000 participating employers as at 30 September 2007. Cbus has a history of strong long-term results for members.
All Profits to Members
Cbus is managed solely for the benefit of its members. All profits belong to them, and Cbus pays no commissions to sales agents and no shareholder dividends. Cbus membership fees are among the lowest of any super fund in Australia, and Cbus provides 24-hour insurance cover for death and total and permanent disablement (subject to eligibility criteria).
Find out more about Cbus phone 1300 361 784 or click here
ABN WORKERS & CONTRACTORS – KNOW YOUR SUPERANNUATION RIGHTS
If you work under a contract type situation and / or you are on a flat rate and / or you have an ABN and invoice your employer for your work you need to be aware of your rights in relation to Superannuation. The information below comes from the Australian Tax Office’s website.
Am I eligible for super if I am a Contractor?
An employer may have to make super contributions for contractors paid under a contract that is wholly or principally for labour. This is even if the contractor quotes an Australian business number.
If the contract is partly for labour and partly for something else (for example, the supply of goods, materials or hire of plant or machinery), it will still be a contract for labour if it is principally (chiefly or mainly) for labour.
'Labour' includes mental and artistic effort as well as physical work.
So if you are a contractor or ABN worker in any of the above situations and think you may be entitled to Superannuation contact Rod Reynolds at the Union to discuss your situation on (08) 9221 1055. Alternatively, contact the ATO who can look at your individual situation and assess whether you are entitled to Super or not. They can also order your company to pay your Super if you are entitled to it.