Superannuation stapling – what does it mean for employees and employers?

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What’s a stapled super fund?

A stapled super fund is an existing super account that is linked or ‘stapled’ to an employee. This stapled super fund follows the employee as they change jobs.

What’s changing from 1st November 2021?

From 1st November 21 there are changes to superannuation requirements for new employees. If your new employee is eligible to choose a super fund but doesn’t, you may need to request their ‘stapled super fund’ details from the Australian Taxation Office (ATO).

This change should streamline the superannuation process for both employee and employer, by preventing new super accounts from being opened for employees each time they have a job with a new employer.

How do I request stapled super fund details?

You can log in to ATO Online Services to request stapled super fund details. It can also be done on your behalf by a registered tax practitioner.

After you’ve submitted your employee’s tax file number declaration and/or Single Touch Payroll event, you will be able to request that employee’s stapled super fund.

The below information will be required to request a stapled super fund for an employee:

  • Employee tax file number
  • Employee full name
  • Employee date of birth
  • Employee address (if TFN could not be provided)

How will I be notified?

If you are using ATO Online Services, you’ll receive the response on-screen. If the request was made on your behalf by an authorised representative, you’ll be notified of the outcome of that request. The employee will also be notified of the stapled super fund request and the details provided.

Our team at Solvise are registered BAS Agents and can provide assistance with superannuation lodgement, superannuation guarantee charge statements, reporting and stapled super requests. If you would like a helping hand with this side of your business, don’t hesitate to get in touch with us.

  • Advice given is general in nature – always speak to a registered tax practitioner about your specific circumstances.

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House plants can make your work space healthier and happier

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You may not be aware that your office space could be damaging to your health. Studies have shown that indoor spaces can often contain volatile organic compounds (VOCs) such as acetone, benzene and formaldehyde. These types of compounds can be found in paint, furniture, printers, cleaning supplies and even dry cleaned clothes.

What are the risks?

The health effects caused by VOCs can vary depending on the compound in question, toxicity levels and length of exposure. Some examples of short-term exposure effects include eye and respiratory tract irritation, headaches and dizziness.  Long-term exposure to VOCs can have severe effects including liver and kidney damage and even damage to the central nervous system and some forms of cancer.

In addition to VOCs, indoor work spaces also run the risk of a build-up of carbon dioxide. This can lead to that all too familiar ‘stuffy’ feeling which can cause lack of concentration and drowsiness and in turn, a decrease in production/efficiency.

What can you do?

One way to remove VOCs from indoor spaces is to implement an air filtration system but these can be costly to install and run. Luckily a much cheaper and greener solution is available in the way of common house plants. Using house plants to remove VOCs can prevent some of the harmful effects of dangerous compounds such as dizziness, allergies and asthma.

office plants

Researchers at the American Chemical Society have tested 5 different species of house plants for their effectiveness at removing VOCs from the atmosphere. The plants were exposed to 8 common VOCs for several hours in a sealed chamber. Results showed that all 5 plants were capable of absorbing acetone. The dracaena shrub absorbed an impressive 94 per cent of acetone from the air. The best performing plant overall was the bromeliad which was able to absorb 80 per cent of 6 out of the 8 VOCs tested. A study by UTS group also found that house plants, particularly palms, are effective at reducing carbon dioxide levels.

A healthier and happier workplace

Adding house plants to an office/business place to purify the air is a green solution to its core. Eliminating the need for expensive air filtration systems also translates to lower energy costs and usage. Psychologists from Exeter University have also found that employees can be 15 per cent more productive when house plants are introduced to a ‘lean’ office space so the benefits are plentiful.

For more information on the study by the American Chemical Society, see the video below.

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