Superannuation

Matters currently under consultation for Superannuation.

Last updated 3 July 2024

[202316] Increasing the payment frequency of superannuation guarantee

[202316] Increasing the payment frequency of superannuation guarantee
Registered	May 2023
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: ensure employees have greater visibility over whether their entitlements have been paid better enable the ATO to recover unpaid superannuation. Treasury issued the Securing Australians’ superannuationExternal Link paper in October 2023. Submissions closed on 3 November 2023.
Who we are consulting	Employer representatives BAS agents and tax agents Super funds Digitals service providers Payroll providers Clearing houses Superannuation Administration Group Superannuation Industry Stewardship Group BAS Agent Association Group Small Business Stewardship Group Tax Practitioner Stewardship Group Private Groups Stewardship Group
Consultation lead	Caryn Kaluzinski, Superannuation and Employer Obligations PaydaySuper@ato.gov.au Phone 08 8208 1284

QC54486