Treasury Laws Amendment (Payday Superannuation) Regulations 2026 (F2026L00133)

Schedule 1 Superannuation guarantee reforms to address unpaid superannuation

Repeal the regulations, substitute:

7.07G Allocation of contributions - regulated superannuation funds (other than self managed superannuation funds)

(1) This regulation applies to the trustee of a regulated superannuation fund, other than a self managed superannuation fund, if:

(a) the fund receives a contribution for a member of the fund; and

(b) the contribution is not being made to a defined benefit interest.

(2) If the trustee is able to allocate the contribution to the member, then the trustee must allocate the contribution to the member:

(a) as soon as practicable; and

(b) in any case, no later than 3 business days after the contribution has been received by the trustee.

(3) If the trustee is unable to allocate the contribution to the member, the trustee must refund the contribution:

(a) as soon as practicable; and

(b) in any case, no later than 3 business days after the contribution has been received by the trustee.

(4) If a contribution is refunded under subregulation (3), then the contribution is taken not to have been made.

7.07H Allocation of contributions - self managed superannuation funds

(1) This regulation applies to the trustee of a regulated superannuation fund that is a self managed superannuation fund if:

(a) the trustee receives a contribution in a month; and

(b) the contribution is not being made to a defined benefit interest.

(2) The trustee must allocate the contribution to the member within:

(a) 28 days after the end of the month; or

(b) a longer period that is reasonable in the circumstances.