DSPANZ welcomes the joint announcement from the Treasurer and Assistant Treasurer on the policy design details for delivering Payday Super.
We are pleased to see that the government has listened to our feedback and effectively reduced the scope of what can reasonably be delivered to enable Payday Super by 1 July 2026.
The confirmation that Payday Super will be defined as within 7 calendar days will allow the measure to be delivered leveraging existing technology and is expected to reduce the overall efforts for DSPs.
We support updating the SuperStream data and payment standard to allow payments via the New Payments Platform (NPP). We urge the ATO to commence this consultation with DSPs, gateways and payment providers as soon as possible.
We understand there's more work required to better understand the detailed rules and technical requirements needed to support Payday Super.
DSPANZ remains committed to working with the government, ATO and our members to ensure the successful design and implementation
of Payday Super.
Pay Super Policy Design Details
- From 1 July 2026, employers will be required to pay Superannuation Guarantee (SG) contributions at the same time as salary and wage payments. Contributions must be received by employees’ superannuation funds within 7 days of payday, with limited exceptions.
- The SG charge will be updated to reflect the new payment schedule, with penalties and interest for late or unpaid contributions. The charge will incentive prompt correction by scaling up penalties for repeated non-compliance.
- A simplified approach to correcting late contributions. It automatically counts contributions towards the earliest unpaid period and removes the need for employer elections.
- The deadline for super funds to allocate or return contributions will be reduced to three business days.
- The ATO will retire the Small Business Superannuation Clearing House by 2026.
- The SuperStream data and payment standards will be revised to support payments via NPP and enhance error messaging to help quickly address any issues.
- Revised choice of fund rules will enable employers to show employees their existing stapled fund during onboarding.
- Super products advertised during onboarding will be limited to MySuper products.
For more details on the announced policy design details, visit the Treasury's fact sheet here.
DSPANZ members can join in on the conversation through our members only
payroll LinkedIn group.