![]() Or as always, contact your Arabon accountant on 1300 ARABON or book online if you require assistance with this new requirement for new employee superannuation. Visit the ATO website for more information about this key change to employer obligations for employee superannuation. ![]() Where no fund is specified and no stapled fund exists, you can continue to make contributions to your default superannuation fund.Update your employee onboarding process to check for a stapled fund where the employee does not specify a chosen fund.Continue to provide your new employees with a Superannuation Standard Choice Form.Your Arabon accountant can also request this information on your behalf from the ATO. The ATO will then look up the employee record and either return the stapled fund details or advise that no stapled fund exists. To request these details, the employer will need to log in to the ATO Portal and submit the new employee details including TFN, name, date of birth, and address. Using ATO online services, employers can request their employees’ Stapled Super fund after they have submitted a Tax File Number Declaration or an STP event. How can I identify if an employee has a stapled fund? Stapled super is designed to protect employees from paying fees to multiple funds each time that they start a new job, and a default account is created for them where needed. Enter the appropriate super fund details into your payroll system and pay superannuation as per normal.If no fund is chosen and no stapled fund exists, then you may use your default super fund.Where your new employee does not choose a super fund, login to ATO Online Services and request their stapled fund details (see below).Continue to provide new employees with a Superannuation Standard Choice Form.What do I need to do?įor new employees starting from 1 November 2021 onwards, an employer must: What is a stapled fund?Ī stapled fund is an existing super account that is linked, or ‘stapled’, to an individual employee so that it follows them as they change jobs. The change is intended to encourage the use of a single super fund and avoid the creation of new super funds for employees when they change employers. Previously, the employer could simply direct super contributions to their default fund. If a new employee does not specify their own super fund, employers must make contributions to the employee’s “stapled fund”. If a new employee doesn’t specify a super fund, there will be an extra step to ensure they comply with government requirements. The Micro-cut takes your data down to 4mm x 12mm particles (up to 1200 per letter size sheet) Provides complete shredding for: CDs, credit cards, staples, paper clips, paper, and DVD's. From 1 November 2021, there will be a key change to employer obligations for employee superannuation when setting up a new employee’s super fund. TRU RED 20-sheet micro-cut shredder reduces a standard letter sheet to up to 1200 particles.
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