1. NOT PAYING SUPER IS WAGE THEFT
Not paying superannuation for employees is like not paying wages; it’s theft. Wage theft, which includes failing to pay superannuation, became a federal criminal offence on 1 January 2025.
2. SMALL BUSINESS SUPER CLEARING HOUSE IS CLOSING 30 JUNE 2026
If your business currently using the ATO’s Small Business Super Clearing House (SBSCH) to pay super for your employees you should start looking for alternatives now as this will close on 30 June 2026.
Key dates for SBSCH
If the SBSCH is still being used on these dates:
- 10 December 2025 — superannuation payments, along with instructions, must be received by 5:30pm (AEDT). Payments received after this time will be processed from 2 January 2026. Check the SBSCH system status for planned maintenance and availability;
- 28 January 2026 — SG quarterly payments due date;
- February to March 2026 — move to an alternative option from SBSCH;
- 28 April 2026 — SG quarterly payments due date;
- 30 June 2026 — final day of using the SBSCH, make any final payments and download reports; and
- 1 July 2026 — SBSCH is no longer available
3. PAYDAY SUPER FROM 1 JULY 2026 IS NOW LAW
From 1 July 2026 all employers have only 7 working days from payday to get their 12% superannuation in their Super Fund’s bank account, otherwise it is subject to SG shortfall penalties which are not insignificant. (Warning: Test is in Super Fund’s bank account, not out of yours, so need to allow for processing times.
Businesses need to start preparing now. It will impact cash flow. You need to ensure the business processes are in place and working.
It is suggested that you should not wait until the first pay after 1 July but start paying earlier, eg from May to ensure systems, processes and payment timings are all working effectively.
4. HIGHER TAX ON SUPERANNUATION BALANCES OVER $3 MILLION (S 296 TAX)
The Government has recently announced a watering down of their proposal to apply an additional tax on earnings on balances over $3million.
The news is:
- Start date deferred 12 months until 1 July 2027
- Earnings will be based upon taxable income concepts and no longer include unrealised gains
- $3million threshold will be increased regularly in $100,000 increments based on CPI movements
- For balances between $3million and $10 million additional tax will be 15% of the proportion of earnings on amounts over $3million. For balances over $10million there will be an additional 10% tax on the proportion of earnings on amounts over $10 million in addition to the 15% additional tax on proportion of earnings over $3 million.
- Only announcement so the devil will be in the detail once legislated.
