Payday Super Is Coming: What Every Australian Business Must Prepare For Before July 2026 Wealth Coffee Chats podcast

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Payday Super Is Coming: What Every Australian Business Must Prepare For Before July 2026

10h ago 11:52

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In this important episode of Wealth Coffee Chats, Daniel McPherson from Positive Tax breaks down the newly passed payday super legislation- a major change set to impact every business owner across Australia. With the law officially taking effect on 1 July 2026, Daniel explains why the transition window is shorter than it seems and why businesses that aren’t prepared risk severe penalties. He outlines how the long-standing quarterly super cycle will be replaced with a strict requirement for super contributions to be received by the fund within seven days of each payday, giving employers far less cash-flow flexibility. Daniel also dives into the new penalty structure, real-time ATO visibility through payroll systems, and why the commonly discussed “leniency period” is not actually written into law. He highlights the significant operational changes required-automation, tighter payroll accuracy, award compliance, and more frequent cash-flow planning. Finally, Daniel shares an action plan so business owners can prepare early, avoid unnecessary penalties, and protect their employees’ retirement savings. This is a must-listen for anyone running payroll in Australia.

Episode Highlights:

What payday super is and why it’s a major national change.
Key dates: legislation passed, royal assent, and the 1 July 2026 start.
How the shift from quarterly to payday super removes the cash-flow buffer.
New requirement: super must be received by funds within seven days.
ATO real-time visibility and how mismatched data will trigger audits.
The truth about the “leniency period” and why it’s not legally guaranteed.
Big changes to the penalty regime, including the 60% uplift.
Why automation (Xero, MYOB, KeyPay, etc.) becomes mandatory.
The need to fix award setups, underpayments, and payroll errors before July 2026.
A business owner action plan to prepare early and avoid penalties.

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