Super Choice Rule Change

We hope you are all enjoying your first week out of lockdown! Graham and Melissa are supporting as many local restaurants as their budget allows (and enjoying every moment of it).

There has been a little change to the super choice rules, which will come into effect from 1 November 2021.

If you have any new employees starting after this date, and they don’t choose a super fund, you will now need to request their ‘stapled super fund’ details from the ATO. After confirming that you are their new employer, the ATO will give you the correct details for the employee’s existing super account.

This change aims to stop your new employees paying extra accounts for unintended super accounts set up whenever they start a new job.

What you need to do (from 1 November 2021):

  1. Offer your eligible employees a choice of super fund.
  2. If your employee doesn’t choose a super fund, request stapled super fund details from the ATO. (We can do this on your behalf, as your bookkeepers.)
  3. If your employee doesn’t choose a super fund AND the ATO have advised you that they don’t have a stapled super fund, pay their super into a default fund.

Please get in touch if you have any questions!