Superannuation Guarantee (Administration) – Stapled Fund – Guidelines for the Reduction of an Employer’s Individual Superannuation Guarantee Shortfall for Late Contributions Due to Non-acceptance by Notified Stapled Fund Determination 2021
Introductory period for single default aIntroductory period for single default accounts
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Introductory period for single default accounts
(7) The Commissioner will apply a transitional approach to making decisions on whether to reduce the employer’s shortfall for a quarter during an introductory period of 12 months. This period commences on 1 November 2021, being the commencement of the stapled fund requirements and concludes on 31 October 2022.
(8) During this introductory period, the Commissioner will reduce an employer’s shortfall for one or more employees to nil where the circumstances set out in section 4(3)(a) to (e) of this instrument have been met and the employer has made reasonable attempts to comply with the choice of fund rules when making the late superannuation guarantee contributions.
(9) If an employer has not made reasonable attempts to comply with the choice of fund rules during the introductory period, the Commissioner will determine whether or not to reduce the employer’s shortfall in accordance with the general Reduction guidelines outlined below.