#EveryoneNeedsAPlan: Employer Super Contributions to be Paid on Same Day as Pay Received

The Federal Government announced in May, 2023, a proposal for employers to be required to pay their employee super contributions on the day the employee is paid:

• The present requirement is for the employer to pay their employee super contributions each financial year quarter (September | December | March | June)
• The proposal is currently with Treasury department for consultation, but if adopted the new requirements would commence from 1 July, 2026
• Business cashflow will be key to meeting this requirement as the employee contribution will need to be paid when the employee is paid
• If you need help with your business cashflow contact McKinnon Financial Planning (our first appointment is free!)