Are you ready for Payday Super?

Are you ready for Payday Super?

Posted 27 Sep '24

Are you ready for Payday Super?

You might remember back on 2 May 2023 the Australian Government announced that from 1 July 2026, employers will be required to pay their employees’ super guarantee (SG) at the same time as their salary and wages.

On September 18, 2024, the government announced new measures regarding superannuation contributions:

  1. Super Contributions Timing: Employers must pay superannuation guarantee (SG) contributions at the same time as employees’ salaries. If contributions are not received by the employees' super funds within 7 days of payday, employers will incur a super guarantee charge (SGC).
  2. Updated SGC: The SGC will now include:
    • Outstanding SG Shortfall: Any unpaid contributions will be calculated based on ordinary time earnings (OTE), with late payments reducing this shortfall.
    • Notional Earnings: An interest component to compensate employees for delayed contributions.
    • Administrative Uplift: An additional charge reflecting enforcement costs. Additional penalties and interest may apply if SGC liabilities are unpaid.
  3. Tax Deductibility: The SGC will be tax-deductible.
  4. SBSCH Decommission: The Small Business Superannuation Clearing House will be retired by July 1, 2026, encouraging small businesses to use modern payroll solutions for super contributions.
  5. SuperStream Updates: The deadline for super funds to process contributions will shorten to 3 business days from 20, with improvements in data and payment standards.
  6. STP Updates: Employers will need to report both OTE and total super liabilities for employees through Single Touch Payroll to ensure accurate SG tracking.

This measure is not yet law. Why is this important? 

This will have working capital and cash flow consequences that will impact every small business employer.

What are our clients doing about this?  

While setting up a separate bank account for super enables our clients to set aside the funds and make sure they’re prepared for payment by the due date, we have also started paying super in line with payroll now to avoid future cash flow issues.

How can we help?
We provide business advisory services including cash flow planning to our business owner clients.

Further Information
Contact Jenna Lawes of this office on 0418 303 323.

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Need a hand? We’re here to make tax time simple, so you can get back to doing what you do best—running your business. Get in touch with us today to start planning.

Let’s keep things stress free and set you up for success in 2025.

Further Information
Contact Jenna Lawes of this office on 0418 303 323.


This week, ATO made it clear that it are changing its approach to collecting unpaid tax and superannuation debts.
Their new strategy aims to act more firmly and swiftly regarding outstanding obligations, making it essential for business owners to stay informed and take proactive steps.

How can we help?
We provide business advisory services including cash flow planning to our business owner clients.
Let’s work together to ensure you stay informed and compliant during these changes. If you have any questions or need further assistance, feel free to reach out.

Further Information
Contact Jenna Lawes of this office on 0418 303 323.


Queensland businesses: Have you heard about the Business Basics Grant? It’s a fantastic opportunity to receive up to $7,500 in funding for strategic planning, cash flow forecasting, and more!

This is Round 6 of the Business Basics program, focused on business enhancement. Successful applicants can use the grant to boost core skills and adopt best practices.

Further Information
Contact Jenna Lawes of this office on 0418 303 323


Contact Us

07 5222 9920

hello@jlbusiness.com.au

PO 3066 GYMPIE DC QLD 4570

Wed - Fri 8:30AM - 3:30PM

Like many small business owners, we are available by appointment outside of regular hours.