Changes to Superannuation Payment Requirements
As part of the Government’s upcoming modifications to superannuation payment timing “Operation Payday”, from 1 July 2026, employers will be required to pay their employees’ superannuation contributions on the same day as their salary or wages are paid.
In preparation for this change, the Australian Taxation Office (ATO) has announced that the Small Business Superannuation Clearing House (SBSCH) will be closing on 1 July 2026. In addition, the ATO are no longer accepting new employer registrations for the SBSCH.
What This Means for You
If your current payroll system does not have the capability to automatically process superannuation payments at the time of payroll, you will need to make alternative arrangements.
Most industry super funds offer their own clearing houses, which can be used to meet your super payment obligations once the SBSCH closes.
What You Will Need To Do
- Review your current payroll software to confirm whether it supports same-day superannuation payments
- If it does not, you can explore the different clearing house options some examples are:
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- Industry super fund (i.e. Australian Retirement Trust or Australian Super)
- Pay.com.au
- Stay up to date with ATO announcements as the legislation progresses toward becoming law.
Author
Natasa Briffa