From 1^st November 2021 there are changes in the process of getting superannuation fund details from new employees. Here’s what you need to know. 

Note, the changes do not  affect current employees, only new employees.

The changes only affect situations where an employee does not provide their existing superannuation fund details.

The process from 1^st November 2021 will be as follows.

1. Give the new employee a Super Standard Choice Form. This is the same as currently required

2. If the employee does not choose a fund, instead of setting up an account for the employee with your default fund, you now have to request the employees “stapled” super fund details. This needs to be done through the Australian Taxation Office’s (ATO’s) online services. Once the ATO confirms that you are their employer they will send you the employees super fund details.

3. If the employee does not choose a fund and the ATO advises that there is no stapled fund then you will pay their superannuation to your chosen default fund.

If you have any queries, please email: admin@patrickrowan.com.au and we will be in touch, alternatively, contact your Accountant directly.

Patrick Rowan & Associates