“Payday Super” is a proposed reform requiring employers to pay their employees’ superannuation guarantee (SG) contributions at the same time as salary and wages, instead of the current quarterly schedule. The measure is proposed to begin from 1 July 2026 but is not yet law and consultations are currently ongoing.
The ATO’s Small Business Superannuation Clearing House (SBSCH) will also be closed from 1 July 2025.
The measure is seeking to:
- Eliminate unpaid super by targeting unpaid or late super payments which directly harm employees’ retirement savings.
- Boost retirement outcomes by requiring more frequent contributions to allow money to compound earlier.
- Improve system visibility and efficiency by combining the measure with existing tools like SuperStream and Single Touch Payroll (“STP”) to enhance transparency and error handling. The requirements are proposed to be that:
- Employers will need to report Ordinary Time Earnings (OTE) and super liability via STP;
- Contributions must reach the employees’ superannuation funds within 7 calendar days; and
- Unallocated contributions must return to employers within 3 days.
What does this mean for your business?
With major superannuation changes on the horizon, now’s the time to get ahead. Julia and the team at Not Just Beans can help you understand what “Payday Super” means for your payroll processes and ensure your systems are ready well before the 2026 rollout.