Why the Government’s new ‘Payday Super’ Laws could break Australian small businesses

A major shift in federal legislation now mandates employers to pay superannuation contributions concurrently with regular pay cycles rather than quarterly, heavily impacting small business cash flows by pulling deadlines forward by 118 days. While commercial accounting software accommodates these changes, the sudden closure of the ATO’s small business clearing house leaves 280,000 employers scrambling to find alternative solutions amidst rising economic uncertainties and strict impending penalty regimes.See omnystudio.com/listener for privacy information.