Employers must pay their super obligations each payday from 1 July. If your organisation is not ready, the risks include:
- Delays – super payments must reach your employees’ super fund within 7 business days of payday. This timeframe is not extended if there is an error or rejected payment.
- Cash flow impacts – from being unprepared for more frequent super payments.
- System and process issues – as making late changes to payroll systems and processes increases the likelihood of errors and delays.
Don’t wait, taking steps now will help you meet your obligations and avoid the super guarantee charge, benefit your business and support your employees.
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