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Superannuation, Taxation, Business Law, Employment Law Philippa Briglia Superannuation, Taxation, Business Law, Employment Law Philippa Briglia

Payday super – exposure draft legislation now open for consultation

In the 2023-24 Budget, the Government announced that the super guarantee framework will be reformed to align the payment of super guarantee contributions with an employee’s regular pay cycle, instead of the current quarterly requirements. 

The exposure draft legislation for the new ‘Payday Super’ rules has now been released, with consultation open until 11 April 2025.

The super guarantee charge, payable where employers fail to make contributions in full and on time, will be updated, including a new ‘administrative uplift’ component of up to 60% of the shortfall amount.

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