Super Choice Rules to Change from 1 November 2021

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Outline

For any new employees that you hire from 1 November 2021, you will be required to take an extra step if they have not provided you with their super fund account details.

The new step involves requesting their ‘stapled super fund’ details from the ATO. The stapled super fund information will provide you with the new employee’s existing super account details. This is aimed to avoid new employees creating new super fund accounts and paying extra account fees when moving jobs.

What you need to do

From 1 November 2021, you may need to request stapled super fund details for new employees if you are required to make super guarantee payments for the employee and the employee has not provided existing super fund account details.

You may still need to request stapled super fund details for any employees who are temporary residents or are covered by an Enterprise Agreement or Workplace Determination made before 1 January 2021.

How to Request Stapled Super Fund Details

If you need to request stapled super fund details from the ATO, you can follow the below steps:

  • Firstly, you will need to submit a Tax File Number Declaration or process a Single Touch Payroll pay event (this will link the employee to you)
  • Log into ATO Online Services
  • Enter the employee’s details, including their TFN, full name, date of birth & residential or postal address (if TFN is not given)
  • The Online Services system will retrieve the information and return a result on the screen within minutes.
  • The employee will then be notified that the details have been provided to their employer.

For further information please don’t hesitate to contact our office.

Rick & Bryn
Rick & Bryn

Experienced accountants who love helping other business owners in Sydney to maximise profits, improve cash flow & grow their business.

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At Fitzpatrick and Robinson our purpose and reason for being is to help business owners make more money, pay less tax while growing in a sustainable & methodical way. We have a team of bookkeepers, accountants, tax accountants for business, a CPA, Xero accountant specialists while also providing business advisory services.

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