Superannuation Changes
Superannuation contributions to be paid
From 1 July 2026, employers will be required to pay their employee’s superannuation at the same time as their salary and wages.
The measure has largely come about due to unpaid superannuation contributions being a chronic issue in the system. To further strengthen the system, the ATO will receive additional resourcing to help it detect and act on unpaid superannuation payments. https://www.ato.gov.au/General/New-legislation/In-detail/Super/Payday-superannuation/
Super Rate Increased to 11%
If your small business has employees, or hires eligible contractors, you’ll need to ensure your payroll and accounting systems are updated to reflect the new super guarantee (SG) rate of 11% for payments of salary and wages you make from 1 July
Super Matching is coming
ATO is readying to collect on $4 billion in underpaid or late superannuation. A renewed government focus plus Federal Budget funding will enable account matching Technology to compare STP reported super with that supplied to the ATO by super funds at scale.
The foundations have been set to reverse a decade-long ATO tradition of wrist-slapping for superannuation errors and a reactive approach to SG compliance.
