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ARTICLE · 03 OCTOBER 2024

Legislative changes which could impact your business' cashflow

Employers will be required to make Superannuation Guarantee (SG) contributions to employees with each pay cycle.

AustraliaEmployment and HR

Be ready for pay day superannuation.

It's been a turbulent few years for Australian businesses, and the bumps in the road don't seem to be letting up anytime soon. To help prepare you for the road ahead, we've recapped two changes to legislation that could catch out ill-prepared businesses.

Same-day super

Starting from July 1, 2026, employers will be required to make Superannuation Guarantee (SG) contributions to employees with each pay cycle, rather than on a quarterly basis. There will be a new 7 day 'due date' for contributions to arrive in the employees' superannuation fund after each time an employer makes an ordinary time earnings (OTE) payment. If employers do not make their contributions fully and on time, they are responsible to pay GS charge. Contributions must be paid on payday, ensuring they reach the employee's super account within 7 calendar days.

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