You may have seen news stories about ‘improvements’ to super starting in 2026. Its not yet law, so don’t get ahead of yourself.
Assuming the bill passes….
From 2026 you will need to pay super on behalf of your employees each time you pay their wages. Payment frequency will change from quarterly to weekly/fortnightly/monthly (or a combination). Payments will be due much sooner than you have been used to.
If you report monthly to the ATO, you’ll need to ldoge and pay your April IAS by Monday 22nd May.
Are you using your super powers to make the world a better place for your team in their retirement?
January – March super contributions need to be in your employees superannuation fund accounts today, what happens if that deadline hasn’t been met?
Penalties. Harsh Penalties. Business Kryptonite.
Be a super hero for your employees and make sure superannuation payments are made on time!
Its back to school and back to work time!
Have your staff taken annual leave lately? Are your leave records up to date?
STP2 means you need to report leave payments separately from normal wages to the ATO too.
Need help? Ask a BAS agent (like us!) to help you manage your employee and payroll records.
Authorise staff super NOW!
The funds need to arrive and be receipted into employee accounts on or before 28th April to ensure compliance.
Non compliance means the expense is no longer a tax deduction for your business, and you as a director of the firm, become personally liable.
Are you all over business record management?
ATO says:
As the business owner, you are accountable for understanding your record-keeping obligations. If you use a registered tax or BAS agent to manage your records, you still retain primary accountability.
We use apps to help our clients maintain good records, it is much safer than paper files.
Ready to ditch the filing cabinets? Get in contact today.
The Easter long weekend is coming up, what does it mean for you and your team?
Chocolate!
And unusual payroll.
Staff super contributions for wages paid between January and March are due soon.
You’ll need to approve xero super for payment by 20th April to make sure it can fly through cyber space and land in your employees accounts on or before 28th April.
Harsh penalties apply to late payments.
We will eggs-it the office at noon on Thursday 6th, and we’ll be back on Tuesday 11th April.
Have an eggs-ellent Easter Break!
The Chicks
Streamline Management
🐣🐣🐣
Awards are not changing, however gross wages need to be broken down into the individual components. You need to display all allowances separately from the hourly rate you pay your team. (make sure you’re actually meeting minimum payrates!)
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