Stapled super fund legislation now applies - are your processes compliant?

As outlined by Hayley Lock, Alston Kam & Nathan Hua, if an employer does not contribute superannuation into a new employee’s stapled fund from 1 November 2021, they may be in breach of the choice of fund legislation.

From 1 November 2021, employers are required to request stapled super fund details from the Australian Taxation Office (ATO) for new employees. Where the employee is eligible to choose a superannuation fund, an employer will need to request stapled super fund details: if the employer is required to make superannuation guarantee contributions; and the employee does not choose a fund. Even where the employee is not eligible to choose a fund, stapled super fund details will still need to ...

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Authors: Hayley Lock, Alston Kam,

Published Date: 03 November 2021