Extra super step when hiring new employees

Employers may soon need to do something extra when a new employee starts to work for them.

Currently, if a new employee does not choose their own fund, their employer can pay contributions for them to a default fund.

From 1 November 2021, if a new employee does not choose a specific fund, their employer may need to request the employee’s ‘stapled super fund’ details from the ATO.

A stapled super fund is an existing account which is linked (or 'stapled') to an individual employee, so it follows them as they change jobs.

Businesses will be able to request stapled super fund details for new employees using ‘Online services for business’, or by asking their registered tax or BAS agent to do this for them.

Further in this month's update:

• ATO support for employers with expansion of STP
• Reminder for first-time share investors to declare income
• Documenting gifts or loans from related overseas entities
• Additional ATO support during COVID-19
• Paid Parental Leave changes support parents in lockdown
• Reminder of SG obligations for September 2021 quarter