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Forvis Mazars in Australia is proud to be recognised as finalists in three group categories at the 2026 Australian Accounting Awards.

Division 296, widely known as the "$3 million super tax", is set to reshape the landscape for Australians with substantial superannuation savings. Effective from 1 July 2026, this new tax regime will apply additional taxes to super earnings for individuals whose total super balance exceeds key thresholds. If you’re among those impacted it’s important to understand the details, timelines, and how best to prepare, before rushing into hasty decisions.

Payroll compliance is a critical aspect of running any business in Australia. With complex regulations and ever-changing legislation, it’s easy for even well-intentioned organisations to fall foul of the law. Below, we highlight the most common pitfalls that can cause businesses to become non-compliant, focusing on key triggers that employers should watch out for.

From 1 July 2026, the introduction of Payday Super will significantly change how and when employers are required to pay superannuation contributions for your employees. Rather than paying super on a quarterly basis, employers will need to remit super at the same time as wages are paid – every payday. Without early planning, Payday Super can create compliance risks, additional administrative pressure, and unexpected cashflow challenges. Taking steps now will ensure your business is ready well before the changes take effect on 1 July 2026.