Superannuation changes

From 1 July 2025, the Super Guarantee increased to 12%, meaning employers must now contribute at least 12% of eligible earnings into super.

This is the final scheduled increase under the current timetable and applies to most employees receiving super contributions.

Eligible parents receiving government-funded Paid Parental Leave can receive additional super contributions paid by the ATO.

The payment is based on the Super Guarantee rate and is generally paid after the end of the financial year, with first payments expected from July 2026.

From 1 July 2026, employers will generally need to pay super at the same time as wages rather than quarterly. Contributions will usually need to reach employees’ super funds within 7 business days of payday.

This change is intended to reduce unpaid super and improve how quickly contributions reach workers’ accounts.

Deeming rates are used to estimate income from financial assets for Age Pension and some income-tested payments.

Updates to these rates can affect pension eligibility and payment amounts for some Australians.

Division 296 introduces additional tax on super earnings linked to balances above $3 million. The legislation passed in 2026 and is scheduled to start from 1 July 2026. It is designed to reduce tax concessions on very large super balances.

The Low Income Super Tax Offset (LISTO) helps eligible low-income earners by refunding tax on concessional super contributions.

From 1 July 2027, the income threshold will increase to $45,000 and the maximum payment will increase to $810.