New Super Requirements for Employers have commenced

Nov 3, 2021

From the 1st of November 2021, there are new super requirements for employers who hire employees. The change relates to what Fund employers are able to use when an employee does not make a choice of Super Fund.

What are the requirements?

Step 1 - Offer your employees a choice of Super Fund

Employers are required to provide employees a Superannuation Standard Choice Form within 28 days of their start date. If the employee makes a choice, then their employer needs to pay their super contributions to their Fund of choice. If not, step 2 applies.

Step 2 - Request Stapled Super Fund details

If the employee has not made a choice of Fund, employers will need to either log into ATO's online services for business (where they may already be lodging their BAS's) or ask their Tax Agent to do it. The request can only be made once a TFN Declaration or Single Touch Payroll event has been lodged with the ATO. If the employee has a stapled fund, then the employer must contribute to this Fund. If no choice was made and there is no Fund stapled to the employee, then the employer needs to pay super into their Default Fund.

Step 3 - Pay Super on time

It is important that super obligations are paid on time as penalties for even being a few days late can be enormous. The due dates are:


Period

Due date for payment of Super Guarantee Contributions

1 July to 30 September

28th October

1 October to 31 December

28th January

1 January to 31 March

28th April

1 April to 30 June

28th July