Requesting stapled fund details just got easier
This month the ATO will release a new solution to allow employers to request stapled super details directly from the ATO from their business software.
Spirit Super Chief Operations Officer Kathleen Crawford said the update means less leg work for employers and eliminates the need to make separate requests for stapled fund information via ATO online services.
‘The manual process of requesting data through ATO online services was always an interim solution. Integrating the solution into employers’ existing payroll systems makes things much easier and more efficient, which is always good news.’
With the release of the new solution, the current bulk request process will cease in mid-2023.
The ATO is encouraging all employers currently making bulk requests to start discussions with their software providers about switching to the new solution.
Kathleen said employers should contact their software providers sooner rather than later.
‘Most payroll systems will be compatible with the new solution, but you don’t want to leave it too late. Get in in early and get the solution in place as soon as possible. It’s faster and easier, so there’s nothing to lose.’
To find out if your software solution will incorporate the stapled super functionality, please contact your software provider.
For more details about requesting stapled super fund details for employers, see the ATO.
You can also see how the stapling rules affect you in Your guide to stapling.
Consider the PDS and TMD at spiritsuper.com.au/pds before making a decision. Issuer is Motor Trades Association of Australia Superannuation Fund Pty Ltd (AFSL 238 718, ABN 14 008 650 628), the trustee of Spirit Super (ABN 74 559 365 913). Advice is provided by Quadrant First Pty Ltd (ABN 78 102 167 877, AFSL 284443).