Payday Super is Here!
Starting 1 July 2026, employers have said goodbye to being able to pay employees super on a quarterly basis. They must now ensure that super contributions land in their employees chosen funds’ within 7 business days of the actual payday, for EVERY pay.
How to do this
Most modern payroll software providers e.g Quickbooks Online, Xero, Myob, Reckon etc have added this functionality in their Single Touch Payroll (STP) enabled software. Once it is set up in your book keeping software it is often as easy as pushing an extra button or two.
Beware
If you don’t pay on time employers will need to do SGC Statements, where nominal interest and an Administrative Uplift (of up to 60% of the shortfall and nominal interest amount) could be charged. The significance of this is that this could happen EVERY pay and not just on a quarterly basis.
Act now if you haven’t already as this kicks in on your first pay day on or after 01/07/2026!!