Legislation has been introduced in Federal Parliament that, if passed, will see employers having to pay superannuation at the same time as wages (“Payday Super”).
At this point in time, no specific action is required.
If passed, the following actions will need to be taken:
- Make sure that your payroll software application has been updated to manage Payday Super (the ATO is working with software companies to ensure compliance)
- Make sure that your staff super details are up to date
- If you are using the ATO Small Business Superannuation Clearing House, transfer to an alternative platform as this will be retired from 1 July 2026. Alternatives could include your payroll software or a Clearing House managed by a superannuation organisation.
While the legislation will not take affect until 1 July 2026, once passed it is recommended that you transition your processes to include Payday Super as soon as practicable to make sure any issues are resolved well before the deadline.
The Baptist Office will continue to monitor the passage of legislation and provide updates as they are released.
For further information, visit the ATO website.