New payday super laws require same-day contributions from employers starting July 1

Starting July 1, new payday super laws will require employers to remit superannuation contributions on the same day employees are paid. This change could impact retirement plans for individuals, particularly those nearing the $30,000 annual contribution cap, as delayed payments may result in funds not being available in time for tax deductions.

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Summary by Glance · Original reporting by 7 News