Employers must pay their super obligations each payday from 1 July. If your business is not ready, the risks include:
- Delays in super payments as they must reach your employee’s super fund within 7 business days of payday. This timeframe isn't extended if there's an error or rejected payment.
- Impacts to cash flow from more frequent super payments.
- Issues to systems and processes, 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.
Find more information and resources to support a successful transition at ato.gov.au/PaydaySuper
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