Welcome to Clayton & Foster Accountants Serving Country to Coast

At Clayton & Foster Accountants our enthusiastic accounting team are committed to providing an efficient, reliable and cost effective taxation service – our business is helping you make your business successful. We strive to make our services as accessible as we can, and take pride in our honest and courteous treatment of our clients.

Our broad base gives us the ability to handle large and complicated transactions, while and at the same time allowing us to attend to smaller matters with a flexible and personal approach.

Practical Advice & Understanding

At Clayton & Foster we value our clients, and your concerns are important to us. We also understand the anxiety often associated with obtaining professional advice.

As a consequence we strive to provide a consistently down-to-earth, results orientated service specifically tailored to suit your personal circumstances.

From 1st November, if you have any new employees start work with you and they don’t nominate a specific superannuation fund, you may need to request their ‘stapled super fund’ details from the ATO.

As your accountant, we can help you with this.

Choosing a super fund

Most employees are eligible to choose a super fund when starting a new job. However, sometimes an employee might not make a choice. For example, they might omit to complete the form, or they might not know the details of their existing fund or whether they actually have one. This situation could leave the employer at risk of not meeting their superannuation guarantee obligations and incurring penalties.

Employers can request an employee’s ‘stapled fund’ (a fund linked to an individual) details from the ATO, starting from 1st November 2021.

What employers need to do from 1st November – 3 steps

  1. Offer eligible employees and contractors a choice – When a new employee starts work, they can either specify a fund or decide to go with your default fund. Either way, you have an obligation to offer them a choice and pay super contributions into their chosen fund.
  2. If no choice is taken, request details of stapled fund from the ATO – If the employee doesn’t make a choice. You can lodge a request for details of their stapled fund through ATO online services. You will need to provide the employee’s TFN and personal details.
  3. Pay super contributions into the stapled fund – Where the ATO provides details of a stapled fund you must pay super guarantee contributions into it.

Talk to us about super choice and stapled funds

Essentially, you must take all steps you can to allow employees choice of super fund. But in cases where all avenues are exhausted you can use your default fund.

As your accountant, we can lodge ATO requests for stapled funds on your behalf, including bulk requests where there are 100 or more new employees.

Get in touch – we’re happy to help!

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