Payday Super for employers and employees
In the 2023-24 Federal Budget, the Government announced that from 1 July 2026, employers would be required to pay workers’ super at the same time they pay salary or wages.
Payday Super is not yet law
If the legislation passes, Payday Super is currently proposed to come into effect on 1 July 2026.
The Government released Payday Super draft legislation which proposes to implement design principles outlined in their September 2024 Payday super fact sheet (PDF)
What Payday Super will mean for employers
Many employers currently pay their workers’ super monthly or quarterly.
The good news is that paying super on payday means fewer liabilities building up over time, which may make managing cash flow easier. Plus, it lines up with payroll processes, reducing the administration of making separate super payments.
Cbus are there to help
When more information is available, Cbus will share updates and practical guidance with MBA members.
If you have any questions, contact them on 1300 361 784 8am to 8pm Monday to Friday or visit cbussuper.com.au
This information is about Cbus Super. It doesn’t account for your specific needs. Please consider your financial position, objectives and requirements before making financial decisions. Read the relevant Product Disclosure Statement (PDS) and Target Market Determination to decide if Cbus Super is right for you. Call 1300 361 784 or visit cbussuper.com.au. United Super Pty Ltd ABN 46 006 261 623 AFSL 233792 as Trustee for the Construction and Building Unions Superannuation Fund ABN 75 493 363 262 (Cbus and/or Cbus Super)