On May 2nd, 2023, the Australian Government unveiled a new policy stating that starting from July 1st, 2026, employers will need to pay their employees’ superannuation contributions simultaneously with their regular salary and wages. This change has not yet been implemented into law, but its introduction date allows ample time for employers, payroll providers, super funds, and other stakeholders to prepare.

The Treasury and the ATO (Australian Taxation Office) will collaborate closely with industry players and stakeholders in the latter half of 2023 to discuss and address any issues related to these changes.

For further information please see the media release from the Hon Stephen Jones MP