Payday Super 2026: What Burwood Small Businesses Need to Know
A major superannuation reform is officially on the horizon. Starting July 1, 2026, Australian employers will transition to Payday Super, requiring superannuation to be paid at the same time as wages rather than quarterly.
This reform, highlighted by the NSW Small Business Commissioner, aims to strengthen retirement outcomes but requires significant shifts in local business operations.
The 3 Key Changes
- Strict 7-Day Deadline: Contributions must reach super funds within seven days of payday.
- Real-Time ATO Oversight: Increased monitoring through Single Touch Payroll (STP) means compliance is no longer “set and forget”.
- New Calculations: The system moves to “Qualifying Earnings,” capturing a broader range of payments.
How to Prepare
To ensure a smooth transition, the Burwood Chamber recommends:
- Upgrading Payroll Systems: Confirm your software (Xero, MYOB, etc.) is ready for frequent obligations.
- Cash Flow Planning: Adjust your management strategies now to handle per-pay-cycle payments.
- Seeking Expert Advice: Our Platinum Partners and committee include accounting experts available to guide you through these legislative shifts.
