New ATO Stapled Superannuation Rules

Shooting for the Stars by Southern Cross Business Advisers

Episode notes

From 1 November 2021, whenever an employer/business hires a new employee (or engages with a contractor who is subject to employer superannuation based on the nature of the work performed). there is an extra step required in determining the relevant super fund for the employee/contractor should they not provide the employer/business with a completed Superannuation Choice Form stating the super fund they wish for their contributions to go into. No longer can the employer/business automatically select their default fund - they now need to find out from the Australian Taxation Office to see what "stapled" super fund is attributable to that employee/contractor.

Louie looks into the concept of stapled super funds, and shares insights from the ATO's "Your Future, Your Super" Project Director Katie Constance to assist employers/businesses with meet ... 

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