The Albanese government has announced that, from 1 July 2026, businesses will be required to make payments for superannuation on behalf of their employees at the same time as they process the employee’s payroll.

Currently employers have up to 28 days after the end of each quarter to make these payments. The government have advised that the extended start date is intended to give businesses time to prepare for this change. Clearly the main impact of this change is a cash flow one and this new requirement will need to be considered by business when assessing their cash flow requirements.

Contributed by Mark Barson.