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Superannuation changes industry roadmap

Use the roadmap to understand the changes impacting the super industry.

Last updated 11 July 2023

Download the roadmap

We are committed to:

  • maintaining a strong, coordinated consultation framework across the super industry
  • giving industry confidence, clarity and certainty on key dates, approaches and requirements.

Download Changes impacting the super industry – May 2023 (PPTX, 64.5KB)This link will download a file.

This information details changes to information technology that affect the super industry to the end of May 2024. It will be updated every quarter or after major changes or announcements.

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Resources to guide you through changes

Advice and guidance available to help you through the changes includes:

Deployment timelines

Better targeted super concessions

Note: This is pending legislation.

From the 2025–26 financial year, individuals with a total super balance exceeding $3 million at the end of the financial year will pay up to 15% additional tax on the earnings attributed to the balance over the threshold.

ATO deployment

  • May 2023 to July 2026 – We will design and build functionality to
    • administer the reduction of tax concessions available to individuals whose total super balances exceed $3 million at the end of the financial year
    • enable additional fund reporting.

Industry impact

  • July 2025 – Super funds commence reporting additional data to the ATO to enable assessment of a taxpayer's potential liability.

Payday super

Note: This is pending legislation.

From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. The start date will provide employers, super funds, payroll providers and other parts of the superannuation system with sufficient time to prepare for the change. This measure is not yet law.

ATO deployment

  • May 2023 to June 2024 We will consult with industry on the design of these changes, with the final design to be considered as part of the 2024–25 Budget.
  • July 2024 to June 2026 – We will design and build functions to support the final design.

Industry impact

  • May 2023 to June 2024 – Digital Service Providers (DSPs), super funds, clearing houses and gateways need to consider the impact of increased super guarantee (SG) payment frequency and system updates that may be required.
  • July 2024 to June 2026 – DSPs, super funds, clearing houses and gateways to build system updates required to enable compliance with new rules.
  • July 2026 – Employers begin paying super at the same time as salary and wages.

SG rate rise

ATO deployment

  • 1 July 2023 – The SG rate will increase to 11%.

Employer impact

  • Employers must apply the 11% rate when determining the amount of SG to pay employees from 1 July 2023.

Change control deliverables

Better targeted super concessions:

  • May 2023 – Added as announced in the May 2023 Federal Budget.

Payday super:

  • May 2023 – Added as announced in the May 2023 Federal Budget.

SG rate rise:

  • May 2023 – Added legislated rate rise from 1 July 2023.

Your Future, Your Super:

  • May 2023 – Removed as project delivery is complete.
  • November 2022 – Updated to reflect next phase of project delivery.
  • July 2022 – Updated to reflect changed delivery timelines.

KiwiSaver:

  • March 2023 – Removed as project delivery is complete.
  • November 2022 – Updated to reflect next phase of project delivery.
  • July 2022 – Updated to reflect changed delivery timelines.

Downsizer contributions:

  • March 2023 – Removed as project delivery is complete.
  • December 2022 – Updated to reflect passage and date of commencement.
  • November 2022 – Added as announced in October 2022 Federal Budget.
  • July 2022 – Removed as project delivery is complete.

Account matching service:

  • July 2022 – Removed as project currently on hold.

SMSF legacy retirement product conversions:

  • July 2022 – Removed as legislation has not progressed at this stage.

Remove excess concessional contribution charge:

  • July 2022 – Removed as project delivery is complete.

Repeal work test:

  • July 2022 – Removed as project delivery is complete.

First home super saver scheme:

  • July 2022 – Removed as project delivery is complete.

Super guarantee threshold:

  • July 2022 – Removed as project delivery is complete.

Visibility of super in family court proceedings:

  • July 2022 – Removed as project delivery is complete.

Note: Change control is limited to the past 12 months.


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