Oh yay! More red tape for small business!
From 1st November 2021, stapled super kicks in when hiring a new employee.
Wha?
Super funds will be stapled to employees as they move from job to job, so if they don’t complete a superchoice form, you’ll need to check for fund details with the ATO, rather than just add the new employee to your default fund.
ATO says: From 1 November 2021, if you have new employees start and they don’t choose a super fund, you may have an extra step to take to comply with choice of fund rules. You may need to request their ‘stapled super fund’ details from us.
You can read the fine print or watch an ATO video here
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