top of page
Search
  • Writer's pictureMagdalene Chong

Recruiting new employees? The 1 November superannuation rule changes

Updated: Nov 10, 2021

When a new employee joins your company, the Choice of Fund form is used to choose where they want their superannuation to go. If an employee does not specify a fund, their superannuation is usually directed to a default fund.


Employers must call the ATO and obtain details of an employee's existing superannuation fund or 'stapled' fund beginning November 1, 2021, if an employee does not identify a fund (the fund stapled to them). The 'Employee Commencement Form' is used to make the request using the ATO's online services.


Contributions can be directed to the employer's default fund or a fund specified under a workplace determination or an enterprise agreement if the ATO certifies no other fund exists for the employee (if the determination was made before 1 January 2021).




8 views0 comments

Recent Posts

See All

How to Lodge the Audit Report? (Part 2)

An agent should know where to lodge the audit report, many state or territory regulators no longer accept paper-based auditor reports. Check out the below resources for more information: New South Wal

Commenti


bottom of page