Small businesses call for an overhaul of the administration, payment, and notification systems for employer superannuation obligations and potential penalties. The current proposal for payday super doesn’t consider the complexities of making super payments and won’t resolve existing problems. Payday super raises processing costs for
The Albanese Government will require super to be paid on payday, a reform that will benefit the retirement incomes of millions of Australians. From 1 July 2026, employers will be required to pay their employees’ super at the same time as their salary and wages. This simple
A government change requiring superannuation to be paid on payday could mean a young employee will be several thousand dollars better off by retirement. The reform – which will not come in until July 1 2026 – will benefit the retirement incomes of millions of
Under the existing Super Choice rules, employers are required to offer eligible employees the choice of which superannuation fund they would like their superannuation paid to. When an employee doesn’t nominate a fund, the employer can make the payments into the employer’s default fund. From
From 1 November 2021, you may need to request stapled super fund details from us for new employees that don’t choose a super fund. Most new employees are eligible to choose the super fund you pay their super guarantee contributions to. Currently, when a new
The Morrison Government has yesterday introduced legislation into parliament to ensure the superannuation system works harder for all Australians. These measures will reduce waste in the system and save Australian workers $17.9 billion over 10 years by holding underperforming funds to account and strengthening protections
Changes to the law mean new workplace determinations and enterprise agreements made on or after 1 January 2021 must offer employees the right to choose the super fund to which you pay their compulsory super contributions. Once a new determination or agreement is in place, you’ll
The Australian Competition & Consumer Commission (ACCC) released a recent warning regarding a new superannuation scam. The scam takes advantage of the government’s decision to allow Australians partial access of their superannuations starting mid-April to lessen the financial impact of COVID-19. Since the government’s superannuation
With the introduction of Single Touch Payroll (STP) only weeks away, hundreds of thousands of small businesses are still yet to make the switch to the real-time reporting system. In fact, according to a YouGov galaxy survey of 517 micro-business owners in April found 70%
Small employers (those with 19 or less employees) need to get ready for Single Touch Payroll (STP) ahead of the 30 September start date. STP became mandatory for small employers from 1 July this year, however, the ATO granted an extension to businesses that needed
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