The federal government announced amendments to its proposed superannuation tax changes. The original proposals (including one under Division 296) had raised concerns because they would have imposed higher tax burdens on large super balances and certain earnings, especially impacting high net worth individuals.  Initially, the proposal was for individuals whose superannuation balance exceeded $3 million. An extra tax of 15% (raising the tax rate from 15%, to 30%) would apply. 

After years of concern about delayed or unpaid superannuation contributions, the federal government has introduced the “Payday Super” legislation, a reform many in the industry say is long overdue.  What is Payday Super?   From 1 July 2026, employers will be required to pay superannuation guarantee (SG) contributions at the same time as wages or salary payments, rather than on the current quarterly basis.      Key details:   Super contributions must be received by the employe