Payday Super is here!

The biggest change to Australia’s super system in decades has officially started.

Employers, you now must pay super for each payday. How often you need to pay will depend on how often you pay your employees – this could be weekly, fortnightly, or monthly.

It's important super contributions reach super funds within 7 business days after payday for it to be considered paid on time (unless a longer applies, such as for new employees).

My top tip is to address any errors quickly. If a payment is rejected by the fund, don’t wait to address it, review the error, correct the details and resubmit.

Remember, during July you’ll have multiple super payments due including payments for each payday and the final quarterly payment, due 28 July. Keep in mind any payments you make up to 28 July will be applied to the outstanding quarterly amount first. See how payments are allocated through July.

We’re here to help you understand what you need to do and have a range of resources available if you're still unsure. This includes our new Paying super for employers factsheet explaining who, how much and when to pay super.

We understand it may take you a few pay cycles to get it right. If you're trying to do the right thing and pay super on payday, you won't be the focus of our compliance action, so, take steps in the right direction to meet your obligations.  

I’d encourage you to visit Payday Super for all the latest information.

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