The Australian Taxation Office (ATO) is reminding employers that they have until the end of the week to provide eligible employees with the new choice of superannuation fund documentation.
Deputy Commissioner of Taxation in charge of superannuation, Mark Jackson said that employers need to get started with choice if they hadn’t already done so.
He said that before July 29, employers needed to identify existing employees who are eligible for choice of superannuation fund and provide then with a standard choice form.
Jackson pointed out that where employees made a choice, employers had two months to start making superannuation guarantee contributions to the new fund.
“Where an employee does not make a choice, then the employer should make their superannuation guarantee contributions on behalf of that employee to the employer’s fund,” he said.
