Tax Chatter

ATO: What happens if you don't pay super correctly from 1 July 2026

The ATO has issued a reminder that if you don't pay the minimum super guarantee amounts for your employees in full and on time, or you don't correctly follow the choice of fund rules, you are liable to pay the super guarantee charge. However, it said that for paydays from 1 July 2026, you no longer need to lodge a super guarantee statement if you don't pay the minimum super guarantee amounts for your employees in full and on time. The ATO will calculate your super guarantee charge and send you a notice of assessment.

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The ATO has confirmed that the Small Business Superannuation Clearing House (SBSCH) will close permanently on 1 July 2026 as part of the Payday Super reform.

If you currently rely on the SBSCH, the ATO is strongly advising businesses not to wait until 1 July to transition. Planning and action should begin now to ensure you can continue meeting your super guarantee obligations without interruption.

Before 1 July, you will need to:

- Choose an alternative super payment method (for example, your payroll software, a commercial clearing house, or your super fund’s clearing service).

- Switch to the new method as soon as possible to ensure payments are processed correctly and on time.

- Save a copy of your superannuation payment records from the SBSCH, as access will cease once the service closes.

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From 1 July, the super guarantee increased from 11% to 11.5%, helping taxpayers to grow their superannuation.

This will require employers to take into account and apply these changes to their employees’ ordinary time earnings, payments and wages from July 1. However, super contributions for the quarter ending 30 June are to remain calculated at the 11 per cent rate.

We've been busy and about to get busier but welcome all our clients to reach out to us to make sure they get their tax right. We would also like to point out we are not racing to get your tax returns lodged on the 1st July as returns lodged in early July are twice as likely to have mistakes. There may be important information missing particularly if you are receiving income from multiple sources. The ATO are even recommending against early lodgement.

The stakes are high if you lodge in early July The ATO warns taxpayers against lodging their tax return before their income statement is marked as 'tax ready'.

Just a few areas being highlighted.

The #ATO have just released their 2023 hit list of the areas they’ll be cracking down on for personal income #taxreturns for #audit. I unpack so you don’t end up in trouble this #taxtime

On the 1st JUNE 2023, the HELP/HECS debt will increase by 7.1% due to cpi indexation.

Got a HECS debt? Here's how much it will go up by when indexation bites More than 3 million Australians will have their HECS-HELP debts indexed at 7.1 per cent come June 1.

Small Business - Lodgment Penalty Amnesty Program

On 9 May 2023 as part of the 2023-24 Budget, the government announced a lodgment penalty amnesty program for small businesses to encourage them to re-engage with the tax system and get their obligations up-to-date.

The amnesty applies to tax obligations, including income tax and business activity statements, that were originally due from 1 December 2019 and 28 February 2022.

If those returns are lodged between 1 June 2023 and 31 December 2023, any failure to lodge penalty applying to the late lodgment will be automatically remitted. No action is required to request a remission.

To be eligible for the amnesty the small business must, at the time of lodgment, be an entity with an aggregated turnover of less than $10 million.

This does not apply to privately owned groups, or individuals controlling over $5 million of net wealth.