Registered |
May 2023 |
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Expected completion of consultation |
May 2024 |
Consultation status |
Consultation is underway. |
Consultation purpose |
To explore options for administering the government’s Securing Australians’ Superannuation Package. |
Description |
Increasing the payment frequency of superannuation guarantee (SG) is part of the Securing Australians’ Superannuation Package measure that was announced by the government in May 2023 in the 2023–24 Budget (PDF 2.4MB)This link will download a file. Currently, employers are only required to pay their employees’ SG on a quarterly basis. From 1 July 2026, employers will be required to pay their employees’ SG entitlements on the same day that they pay salary and wages. Increasing the payment frequency of superannuation to align with the payment of salary and wages, will:
Treasury issued the Securing Australians’ superannuationExternal Link paper in October 2023. Submissions closed on 3 November 2023. |
Who we are consulting |
|
Consultation lead |
Caryn Kaluzinski, Superannuation and Employer Obligations |