As announced in the 2023–24 Budget, employers will be required to pay their employees’ superannuation guarantee entitlements on the same day that they pay salary and wages.
The consultation paper provides industry and stakeholders an opportunity to provide input on implementing payday superannuation and a redesigned compliance framework to encourage employers to pay their super as close as possible to payday.
Subject to the passage of legislation, the Securing Australians’ Superannuation package will commence from 1 July 2026.
All interested parties are encouraged to provide input on the consultation paper by 3 November 2023.
If you are interested in attending the Stakeholder Roundtable, please email firstname.lastname@example.org by 5 pm 12 October 2023.