When preparing for Payday Super, it’s important to understand the functionality that will be delivered by your payroll provider and how it will help you to meet your new Payday Super obligations. Most payroll providers have finalised mandatory reporting changes, like Single Touch Payroll upgrades, and are ready for 1 July. Other functionality may be included in future upgrades.
Over the coming months, payroll providers will continue to update their products and may release new features in their products at different times.
By now your payroll provider should have communicated their Payday Super readiness and timeframes with you.
You should be able to confirm and understand:
- whether your payroll product can report qualifying earnings and super liability in Single Touch Payroll
- whether your payroll product has been updated to include new SuperStream data requirements
- how errors for rejected payments will be reported and where error messages will appear
- how you can access the new member verification request (MVR) to verify an employees’ super fund details are valid and can be accepted by their super fund before a contribution is made
- whether you can send contributions fast via the New Payments Platform (NPP) and how long it will take to be received by the super fund. You may also need to contact your bank and update or change accounts to make payments via the NPP.
If your payroll provider has not communicated their Payday Super readiness plans, you should have concerns about your ability to meet the Payday Super obligations using this product. If that’s the case check the Super product registerExternal Link for more information on payroll providers that can help you meet your Payday super obligations.
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