More superannuation changes are afoot, and many smaller businesses are nervous, as they face a double-whammy of increased costs.
As well as an extra 0.5% of guaranteed super from 1 July this year, bringing payments to 12% of gross wages, revised rules could see ‘payday super’ introduced next year.
Under current law employers are only required to pay super quarterly, but proposed changes would require employers will have to pay super at the same time as they pay employee’s wages (weekly or fortnightly) from 1 July 2026…