Extra “super” step when employing new staff.

From 1 November 2021, if you have employed new staff, you may have to take an extra step to comply with choice of fund rules if they don’t nominate a super fund.

Currently, when a new staff member doesn’t choose a super fund, you must pay super into your default fund.  From 1 November, you need to request their “stapled super fund” details from the ATO.  A “stapled super fund” is an existing super account which is linked (or “stapled”, hence the name) to an individual so that their super follows them if they change jobs.

You may need to request stapled super fund details via ATO Online Services when:

• A new employee starts on or after 1 November 2021;

• You need to make super guarantee payments for that employee; and

• Your employee is eligible to choose a super fund but doesn’t.

This change aims to reduce account fees by restricting new super accounts from being opened each time an employee starts a new job.

If you need more information about these changes or you need assistance requesting stapled super fund details via Online Services, please call the office.

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