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International · 45 mins ago
✦ 78✓ Factual
Payday super is coming on July 1. Workers will be thousands of dollars better off long term
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From July 1, Australian employers will be required to pay employee superannuation on the same day as salaries rather than quarterly, with payments reaching super funds within seven days. The change aims to improve retirement savings outcomes for workers.
Payday super is coming on July 1. Workers will be thousands of dollars better off long term
From July 1 this year, all Australian businesses will have to pay their employees’ superannuation on the same day as they pay salaries. If you’re an employee, that means your employer’s super payment will need to reach your super fund within seven days of pay day.
In the lead up to the change, the Australian Taxation Office has been encouraging employers to transition to “payday super” early. So you may have already noticed a change.
Underpayment or failure to pay superannuation has become a gro
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