Payday Super Reforms: SMEs Face Potential Financial Penalties
Small businesses are warning that their payroll software and back-office systems may not be ready in time to comply with the federal government's planned payday superannuation reforms, exposing them to potential financial penalties.
Labor is introducing changes that will take effect from July 1, 2026, requiring employers to submit superannuation payments for employees at the same time as wage and salary payments.
Employers will be required to submit superannuation payments for employees at the same time as wage and salary payments.
Author's summary: SMEs face financial penalties due to impending superannuation reforms.
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