The Australian Chamber of Commerce and Industry (ACCI) said the design details of the payday superannuation policy revealed today do not offer enough support for small business to comply with the new obligations.

Australia’s largest and most representative business network says while it supports the principle of payday super, the policy as it stands will create another layer of red tape for small businesses.

ACCI chief executive officer Andrew McKellar said the notion of payday super is sound, but the delivery and implementation as announced by the federal government falls short of the mark.

“The business community supports the move to payday super and sees benefits for both the employer and the employee in better aligning superannuation to wages,” Mr McKellar said.

“However, we are concerned the government has not given enough consideration to the pressures small businesses are facing right now,” Mr McKellar said.

He cites the proposed removal of the Australian Taxation Office’s Small Business Superannuation Clearing House as an example.

“While this facility is not operating as it should, it is a valuable tool for many small businesses who simply do not have the time or resources to process superannuation payments any other way.”

ACCI’s 2024 Small Business Conditions Survey revealed that over 40 per cent of small businesses were not even aware of the forthcoming changes to their superannuation requirements.

“As the government pushes ahead on their self-imposed deadline of 1 July 2026, it must work to better inform small businesses, so they have the support in place to comply with their increasing obligations,” Mr McKellar said.

ACCI however does welcome some of the key proposals announced today.

“The due date of seven calendar days after payday for contributions to arrive in the employee’s superannuation fund is a welcome compromise, with the government initially suggesting a three-day requirement,” Mr McKellar said.

“Digitalisation of the payroll system has made it easier for businesses to better align their payroll and superannuation payments, so these changes will be more workable than they otherwise may have been.”

ACCI says it will continue to engage with the government and others on how to best implement these changes with as minimal burden to small businesses as possible.