Payday Super: What It Means for Your Business (How to Stay on Top of It)
If you employ staff, chances are you’ve heard “payday super” mentioned more frequently in recent months. While it may sound like just another compliance change, payday super represents a significant shift in how and when superannuation is paid — and it’s something every employer should be preparing for now
Whether you run payroll in-house or rely on us to manage it for you, here’s what payday super means, why it matters, and how you can stay compliant without unnecessary stress.
What Is Payday Super?
Currently, employers are required to pay Superannuation Guarantee (SG) contributions at least quarterly, by the ATO deadlines.
Under payday super, super will need to be paid on or before each pay run, at the same time as wages. This applies regardless of whether your employees are paid weekly, fortnightly, or monthly.
Why Is This Changing?
The shift to payday super is designed to ensure employees receive their super earlier and more regularly, reduce unpaid or late super, and improve transparency and compliance.
What Does This Mean for You as an Employer?
Cash flow becomes more important, as super will need to be funded every pay cycle rather than quarterly.
Payroll accuracy also matters more than ever, as errors will have immediate compliance implications.
For Clients Who Process Their Own Payroll
If you currently run payroll internally, you’ll need to ensure your software and processes can handle super payments each pay run. This is a good time to review your setup and seek support if needed.
For Clients Where We Process Payroll for You
We use Xero as our payroll software of choice, and it is payday super ready and compliant. We recommend transitioning ahead of the 1 July start date, and we’ve already migrated many clients while actively working with the rest to ensure a smooth transition.
We’re Here to Support You
Whether you manage payroll yourself or rely on us end-to-end, we’re here to support you through every step of the payday super transition.
No matter how you run your payroll — independently or with our full support — we’re by your side through every stage of the payday super transition. Discover the Tashly difference. Get in touch with Tashly Consulting Xero Bookkeepers & Xero Training Adelaide – Not your average Bean Counters!
Tashly Consulting Xero Bookkeepers Adelaide are Registered BAS Agents #86318001, and we are dedicated to providing seamless, high-quality, transparent bookkeeping services – If you would like any further information please contact us via telephone (08) 8121 4424 or via email to discover how the multi-award-winning team at Tashly Consulting can help you better manage your business bookkeeping.
Disclaimer: All or any advice contained in this blog/newsletter is of a general nature only & may not apply to your individual business circumstances. For specific advice relating to your specific situation, please contact your accountant or other professional adviser for further discussion.
