Consultations are underway for changes to superannuation

 

  • From 1¬†July 2026, employers will be required to pay their employees‚Äô super at the same time as their salary and wages. Currently, employers are only required to pay their employees‚Äô super quarterly.

    These changes to payday super were announced in the 2023‚Äď24 Budget. We‚Äôve since been consulting closely with key industry bodies, including Small Business and Tax Practitioners stewardship groups, super funds and clearing houses to co-design the measure.

    These consultations help us gain a better understanding of the impacts and changes to be made and will help inform how the changes will be implemented.

    Treasury recently released a consultation paperExternal Link which will allow you to provide feedback on the policy aspects of payday super. Consultation is open until 3 November.

    The final design will be determined by the government and considered as part of the 2024‚Äď25 Budget.

    For more information, visit Payday superannuation or you can find out about the ATO’s consultation on the measure.

    Remember, your tax professional can help you with your tax and super obligations.

 

Last modified: 17 Oct 2023

QC 73408 ‚Äď https://www.ato.gov.au/Business/Small-business-newsroom/Lodging-and-paying/Consultations-are-underway-for-changes-to-superannuation/?SmallBusNewsroomLanding

 

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