Payday Super laws have officially passed, and the countdown to 1 July 2026 is on. You will need to pay super at the same time as you pay wages. It must leap tall buildings and land in the employee’s fund within 7 business days.
We’ve put our undies on the outside of our tights, and we’ve got your back on these big changes.
What’s Changing?
– Increased Frequency: Depending on your pay cycles, your reporting frequency will shift from quarterly to weekly, fortnightly, or monthly. You’ll be in the phone booth a lot more often.
– New Calculations: ‘Qualifying Earnings’ will replace ‘Ordinary Time Earnings’ (OTE) as the base for calculating the 12% contribution.
– Cashflow Impact: If you don’t start your run-up now, you could end up paying April, May, June, and July all within a single month. That would be villainous for your cashflow.
Don’t wait for the 2026 deadline to activate your superpowers – start easing into the phone booth now to avoid a mid-2026 crunch.
Need a sidekick to make you look good? Ask us to give you a hand.
