4 minute read
Wrapping up 2021
2021 has been a year of challenges and opportunities for electrical contractors. consistently across Australia, we’ve seen members being creative and responsive in managing our constantly changing environment, finding new ways of working and delivering innovative solutions. As the states start opening their borders, 2022 brings the promise of increased freedom to meet, travel and connect, creating more opportunities for industry.
On the theme of opportunities, in this edition, we take a deep dive into working in the health industry - a diverse but highly-specialised sector that presents many prospects. Our feature articles include contractors, apprentices and suppliers’ insights on the areas contractors need to consider before moving into this space.
As we close out the year, it’s a great time to consider positioning your business for the coming year. We have a look at the Great resignation, which is expected to gear up in march 2022, as well as reviewing technical, safety and legal developments that could impact on your business. moving forward, NecA will continue to provide all the information you need to keep your business at the forefront of industry. We would like to take this opportunity to thank all contractors for their continued support of NecA. If you have something to share about your corner of the country, let us know. We’d love to hear from you.
We wish you and yours a safe and restful festive season, and look forward to seeing you next year. Take care and enjoy!
The NECA News team
GET IN TOUCH
TELL US WHAT YOU THINK
Share your feedback via email necanews@neca.asn.au
GOT A STORY IDEA?
Share your ideas for content via email
necanews@neca.asn.au
ARE YOU A NECA MEMBER?
We’re looking to showcase NecA member stories in each issue. reach out to your NecA branch or email
necanews@neca.asn.au
SIGN UP TO NECA NEWS ONLINE
If you’d like to join more than 30,000 of your industry peers and receive a digital version of NecA News, sign up at www.neca.asn.au/necanews
onekonekt modular protection devices
one range, one busbar, one solution
NEWS IN BRIEF
YOUR FUTURE, YOUR SUPER – STAPLING OF SUPERANNUATION FUNDS
changes to superannuation funds will be introduced from 1 November 2021 under new reforms to the Superannuation Guarantee (Administration) Act 1992 (cth). These legislative changes, known as Your Future, Your Super (YFYS), have been introduced to align legislative needs with the needs of Australian employees to minimise the effects of creating multiple superannuation accounts across different jobs and enhance individuals’ retirement outcomes.
It is the employer’s responsibility to contact the ATO to determine whether the employee has a stapled superannuation fund. In doing so, the employer will need the following:
1. the employer’s login to the ATO’s online services; and
2. the employee’s details including their: a. full name; b. date of birth; c. address; and d. tax file number.
There will also be an option to bulk request the information on employee stapled funds for up to 100 new employees.
currently in Australia, where new employees fail to nominate a chosen superannuation fund at the commencement of their employment with a new employer, the employer may pay the relevant superannuation contributions to the employer’s nominated default superannuation fund.
Under the new amendments, from 1 November 2021, where an employee fails to nominate a chosen superannuation fund, the employer will be required to contact the Australian Taxation Office (ATO) to determine whether the employee has a ‘stapled’ fund. This will mean that where an employee moves from one job to another, their superannuation fund is stapled to them unless the employee makes a different choice. Where a stapled fund exists, the employer is to make superannuation contributions to that fund.
Under these new amendments, employers can only pay superannuation contributions to their default fund where the employee has failed to nominate a fund and the employer has been advised by the ATO that they do not have a stapled super fund.
It is important to note that employees who commenced employment prior to 1 November 2021 are not directly impacted by these changes.
What this means for employers
The YFYS changes may have some effect on the superannuation provisions of enterprise bargaining Agreements (ebAs). Where an ebA includes a provision stating that an employer is to make superannuation contributions to the employer’s default fund where an employee fails to nominate a fund, the changes apply as follows: 1. where the ebA was made prior to 1 January 2021, this provision will remain applicable until the ebA is re-negotiated; and 2. where the ebA was made after 1 January 2021, then from 1
November 2021, the new stapled superannuation fund provisions override any such clause in the ebA.
In light of the new amendments coming into effect on 1 November 2021, employers are encouraged to obtain the required employee information that will enable them to contact the ATO regarding stapled superannuation funds. Also, employers who are currently undergoing the bargaining process for an ebA should amend clauses referring to superannuation contributions to reflect the new legislative requirements.
