17 June 2026
The new financial year brings with it a number of changes for small businesses that will affect superannuation, taxation and cash flow. The single biggest change affecting payroll and superannuation for all small businesses is the introduction of Payday Super.
Payday Super requires superannuation contributions for employees to be made within 7 days of a payday rather than the previous per quarter contribution model. It is important that you ensure your payroll system and current contribution process are equipped to handle these changes.
Other Changes Commencing 1 July 2026 are:
- 4.75% increase to modern award wage rates from the first full pay period on or after 1 July 2026.
- $20,000 instant asset write-off becomes permanent: Farm businesses with a turnover of less than $10 million, applying simplified depreciation rules, are able to immediately deduct eligible assets costing less than $20,000.
- Tax losses are able to be carried back for up to 2 years for small businesses with less than $1 billion turnover.
- The ATO Small Business Superannuation Clearing House will close. If this is the current platform your small business uses for superannuation contributions, you will need to find an alternative platform prior to 1 July.
- Pending any further announcement, the temporary reduction of excise and excise-equivalent customs duty rates for most fuel products will end.
These changes have the potential to affect your small business’s cash flow. If you see cash flow becoming tight, reach out early to one of our Small Business Financial Counsellors who can support you to get your finances back under control. We also suggest engaging early with your accountant or other trusted, professional advisors.