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The future of pay: Super, compliance, and emerging technology - Shared screen with speaker view
Flare Team
35:12
Cameras and audio on once James kicks off
Jolanta Moscicka
35:51
hi
Flare Team
36:17
Hi Jolanta, thanks for joining!
Flare Team
43:10
Here’s an overview of Your Future, Your Super: https://treasury.gov.au/sites/default/files/2020-10/p2020-super_0.pdf
Flare Team
44:22
If you have some questions, please feel free to ask them here, and we’ll address them throughout the session
Flare Team
49:38
Thanks Rebecca, we’ll clarify this point on the session
Flare Team
49:47
Thanks Rebecca, we’ll clarify this point on the session
Tania Nicholson
50:15
The challenge with this is the issue with employees not using their legal name on their paperwork and delays in receiving things like tax file numbers or even in some cases getting correct TFN. If an employee cannot get it right how is an employer supposed to get it right.
Michael Cannon
50:55
For us Super is created at the point payroll is run, super fund has already been attached to the employee. So if we need to run STP first in order to get the Super, that would indicate we cant generate super at this point. If that is the case, then you have the issue of end of quarter payments etc
Mary-Anne Lines
52:21
How will Flare deal with Super Stapling in conjunction with the current super process for onboarding?
Michael Cannon
55:53
And if they dont have an existing super fund? for example this is their first job?
Allyson Straw
56:10
is there a deadline for this said portal?
Tania Nicholson
56:22
What will happen in with this where an employee is in a defined fund that will not accept your payments? e.g. works for a government department and takes a second job.
Sara Fry
57:35
What happens if someone states to go through to our default however does actually have another super fund in this ATO portal?
Michele SOUTHAM
59:11
So...if we only onboard a new emp once they return the ATO Choice form - job done!
Flare Team
59:12
Thanks for all the questions, we’ll do our best to get to all of them. If not answered on this session, we’ll followup with
Michele SOUTHAM
59:50
So...if we only onboard a new emp once they return the ATO Choice form - job done!
Rohini C
59:51
What happens to employees who are new to the country , whats the plan to guide them in terms of super selection , they normally have a lot of questions to start of with
Jane Conder
01:04:18
With the increase in super contribution to 10% as of 1 July 2021, is this expected to be an increase in the gross amount that the employer pays, or is it a reduction in the take-home pay for the employee?
Robbie Carter
01:07:46
For employees on an Enterprise Agreement which came into effect prior to 1 Jan 2021,how is the ATO going to address these conditions
Marie Zafiratos
01:08:05
What if the employer has an EBA that states which Super fund they are required to contribute to... will this override the staple fund.
Barb Gannon
01:08:49
Sadly there's a lot of people not skilled to evaluate a table.....
Barb Gannon
01:09:39
Sadly there's a lot of people not skilled to evaluate a table.....
Jonathon Harris
01:10:39
and providing financial advice is highly regulated, the only thing you could do is encourage they seek advice in making their choice
Barb Gannon
01:11:30
We got in a super specialist to talk to staff about changes (annually) and or questions people have on super from selection to binding nominations
Sean O'Neill (MAHRI)
01:11:59
Tracy, the dreaded and necessary caveat raises it's head : "I am not authorised to give financial advice. Please consult a professional" (and various iterations.
Marguerite Salem
01:12:10
What would the timeframe for the ATO to inform business of the employee "other" fund if no choice is made?
karla eldridge
01:13:11
Financial education should be a big part of Secondary School curriculum
Tania Nicholson
01:13:37
Super education and employment education is something that should be covered off as a part of the final years of high school. It is something that I was educated on in the early 80's but was missing from my children's education
Flare Team
01:14:01
Thanks Sharon, yes we’ll send a recording of this session to everyone tomorrow
Michele SOUTHAM
01:16:06
I provide details of our default fund (not tied to our company), suggest that they speak to their parents/other people they trust, and let them know about the CanStar.com.au/superannuation website where they can compare the "balanced option" of funds - all while saying "I'm not qualified to provide you financial advice"
Shane McKenzie
01:17:32
Currently having the ability to use the default fund as a clearing account that costs nothing as long as there is a minimum amount of members.I can see this changing over time with less employees being attached to the default fund creating an added cost to employers.
Sean O'Neill (MAHRI)
01:17:41
Yes; payday lenders 🚫
Hanan Kamel
01:26:12
Can I ask how much longer will this meeting go for?
Flare Team
01:26:32
We finish in 8 mins, thanks Hanan
Flare Team
01:29:42
Please share your feedback on this session in the short survey, after this webinar. Thank you for joining us and have a fantastic day!
Tina Papastamatis
01:30:41
Why are Awards and Superannuation so difficult to interpret as each company interprets the awards differently there seems not be set rules.
Yvonne Zhang
01:30:49
any notes or slides we can receive?
Sean O'Neill (MAHRI)
01:30:58
Thank you indeed
Daleen Stadler
01:31:04
Thanks everyone! Very informative
Karen Knight
01:31:05
Thank you for your time!
Amber Potts
01:31:05
Thank you
Dev Rhenius
01:31:07
great session thanks
tina Wallace
01:31:09
thank you
Merrilyn Sim
01:31:09
thank you
Colleen Smith
01:31:10
Thanks
Robbie Carter
01:31:10
thanks