Payroll, super and FBT

Payday Super

Payday Super is a legislated change to how employers pay superannuation guarantee contributions. Instead of paying once a quarter, employers will be required to pay super to employees' funds within a short period after each payday, which means contributions reach the funds sooner. The ATO's Payday Super pages set out the start date, how to manage super during the changeover, and what happens with late or missed payments. Payroll software, the super clearing arrangements the business uses and the timing of cash flow all need to be ready for the change. A practice that looks after payroll for clients should read the ATO guidance and plan the changeover per client.

General information, not tax advice. The rules change, so check the source page above for the current position. Fedix is developed by Tax7 R&D Pty Ltd.