In this guide
Payday super consultation
The Federal Government has released a consultation paper – Securing Australians’ Superannuation – that invites industry and stakeholder input on its proposal to legislate super be paid at the same time as salary and wages.
Currently, employers must pay eligible employees super four times a year on or before set due dates.
The proposal for Payday Super was announced as part of the 2023–24 Budget and is intended to come into effect from 1 July 2026.
“The reform will address the issue of unpaid superannuation by giving employees better visibility of their retirement savings,” Treasurer Jim Chalmers and Assistant Treasurer and Minister for Financial Services Stephen Jones said in a joint press release.
The Australian Taxation Office (ATO) estimates that employees were owed $3.4 billion worth of super in 2019–20 and the proposed changes are designed to make it much harder for employers to avoid paying employees super.
Consultation on the framework closes on 3 November.
Learn more about employer’s super responsibilities.
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