New Superannuation Process for Employers

Stapled Super Fund

From 1 November, if employer have new employees commence, employer may have an extra step to comply with the choice of fund rules. If a new employee doesn’t choose a super fund, employer may need to request employees’ stapled super fund’ details from the Australian Taxation Office (ATO).

Stapled Superannuation fund is an existing Superannuation account of an employee that follows them as they change jobs. This change aims to stop your new employees paying extra account fees for unintended Superannuation accounts set up when they start a new job.

For more information, please refer to–super–step-when-hiring-new-employees-/

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