Don't Lose Count Bookkeeping

10/07/2025

PAYDAY SUPER

What Small Business Owners Should Know
PayDay Super has been proposed but is not yet law. A start date of 1st July 2026 has been suggested, but the legislation has not been passed. While the rules have not changed yet, it is worth paying attention and starting to prepare. Some related changes have already been confirmed and will impact how employers manage superannuation.

Here are the key points small business owners should be aware of:

PayDay Super is Still a Proposal
The concept of PayDay Super has been announced by the government, and it is expected to go ahead. However, it has not yet been passed through Parliament, so it is not yet a law. For now, the existing quarterly super payment obligations remain in effect.

The ATO Small Business Super Clearing House is Closing
This change is confirmed. The ATO will close its Small Business Super Clearing House (SBSCH) from 1st July 2026. No payments will be processed after this date. Employers using the SBSCH should note that it will not be available for the June 2026 quarter. The final quarter that can be used is the March 2026 quarter. A new payment method will need to be in place before then.

Super is To Be Paid at the Same Time as Wages
The main idea behind PayDay Super is that super contributions should be paid at the same time as wages are paid. This would ideally happen automatically through payroll software. The current proposal includes a seven-day processing timeframe; however, this does not provide employers with additional time to make payments. Employers are expected to pay super on the same day that wages are paid. The seven days are for the banks, clearing houses and super funds to complete processing.

Late Payments Must Go To The Employee’s Super Fund
Any missed or late super contributions must be paid directly to the relevant super fund. If the ATO becomes involved and issues a Super Guarantee Charge, penalties and interest will be paid to the ATO, not to the employee’s super fund.

The Penalty System Will Be Different
The penalty system under PayDay Super is expected to be quite different from the current Super Guarantee Charge rules. It may end up being a bit fairer and more practical for small businesses, but we won’t know for sure until the final details are released. How the ATO chooses to put it into action will also make a difference, so it’s something to keep an eye on as more information becomes available.

Conclusion
PayDay Super aims to align super payments with wage payments. While some details are still being finalised, certain changes, such as the closure of the Small Business Super Clearing House, are confirmed and will require attention. Small business owners should monitor these developments and start planning for what’s ahead. Staying informed will help them manage the transition smoothly and keep their business running without surprises when the new rules take effect.

Paying superannuation more frequently may impact cash flow, especially for businesses with irregular income streams. Planning ahead and adjusting financial strategies will be important. The move to PayDay Super represents a major change in Australia’s payroll system. By preparing early, reviewing cash flow, and seeking advice from professionals, businesses can handle these changes with minimal disruption.

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02/09/2022

Mandatory Director Identification

With the full mandatory implementation of Director Identification Numbers (DINs or Director IDs), it will be important to understand the new obligations for those operating in the capacity of a Director, as failure to apply for a DIN within the required time frame will leave you open to both criminal and civil penalties. It is one of the first initiatives under the Modernising of Business Registers Program and is now a legal requirement. A person only needs to apply once for a Director ID, there is no need to apply each time you are appointed as a Director.

What Does it Mean to have a Director ID?

The Director ID will be a unique identifier that a Director will keep forever, enabling regulators to better track Directors of failed companies who use fabricated identities. The introduction of these IDs is aimed at preventing the use of false or fraudulent director identities. Regulators will be helped to trace directors’ relationships with companies over time and better identify director involvement in unlawful activity. The new system will help overcome issues with data integrity, which have always been a constant battle in regulating phoenixing and the illegal activities around this dilemma. This compliance regulator will further support small businesses by keeping out operators that are breaking the law.

https://www.abrs.gov.au/director-identification-number

This link will take you to Australian Business Registry Service. It provides further information and steps required to complete your Director ID.

You need a director identification number (director ID) if you're a director of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation.

07/05/2021

11/07/2020

Meeting your super responsibilities as an employer means you’re making a positive contribution towards the financial futures of your employees. Super is also an essential part of running a business, and Don't Lose Count Bookkeeping is here to help.

10/07/2020

If you require help setting up your payroll for WorkCover purposes, feel free to call us at 0411 117 994

09/07/2020

Whether you’re looking for a comprehensive, start-to-finish, approach to your bookkeeping or you just need a little help getting back on your feet, Don't Lose Count Bookkeeping is here to help.

08/07/2020

It's simple. Cloud accounting reduces or eliminates redundant, time-consuming work that is the bane of most businesses. It allows greater access to real-time data, increasing engagement with businesses financials and assists in making decisions. Contact us to get started today.

07/07/2020

If you've been affected by economic changes due to COVID-19, you may be eligible for superannuation guarantee amnesty. Apply by 7 September 2020.

06/07/2020

Don’t let unlodged BAS & IAS cause you stress. Don't Lose Count Bookkeeping is here to help. Call us today to speak to one of our experienced team members 0411 117 994

05/07/2020

You don't have to! Speak to our payroll experts and let us do all the hard work for you. Get in touch today!

04/07/2020

Don't Lose Count Bookkeeping is here to help! Call us for a chat on 0411 117 994 or email us at [email protected]