You may have seen news stories about ‘improvements’ to super starting in 2026. Its not yet law, so don’t get ahead of yourself.
3 years away sounds like a problem for future you, but we think small adjustments will make the changes easier to swallow.
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.
We’ll take the interim step of changing payment frequency from quarterly to monthly for our clients. Instead of preparing super in early April for Jan Feb & March, we’ll create the payments in the first week of each month for the previous month.
Why would you increase payment frequency before you are forced to?
– Smaller payments more often probably won’t clean out your bank account
– Less likely to miss the legal deadlines and face large penalties (the penalties are harsh)
– More time to fix issues as they arise (changes in USI and fund mergers)
– Staff benefit from earnings off deposits sooner (and super fund reports look prettier says our inner cynic)
If you are currently meeting legal requirements of paying super on behalf of your staff quarterly, perhaps you can increase frequency to get yourself ahead of the game.
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