2026 Federal Budget - Superannuation Measures

Super Guarantee payable on payday from 1 July 2026

From 1 July 2026, employers will have to pay super at the same time as wages instead of every three months. This means if you’re paid weekly or fortnightly, your super will be too.

This means:

» Better tracking of super payments – you’ll be able to see your super being paid in real time, making it easier to spot any missing contributions.

» More money for retirement – getting super more frequently means it can start earning interest sooner, which adds up over time. According to the Treasurer, a 25-year-old earning a median income could have around $6,000 extra at retirement.

» Cashflow impact for businesses – employers will need to adjust their cashflow planning to accommodate more frequent super payments.

This change is designed to protect workers and boost retirement savings, making super payments more reliable and transparent.

Extra tax for super earnings for account balances above $3 million

The 15% additional tax on superannuation “earnings” for individuals with account balances above $3 million from 1 July 2025 appears to remain government policy. This will be on top of the existing 15% tax on superannuation earnings. The Budget papers confirm that the government isn’t backing down on this policy, making it a likely election issue.

This means:

» Taxing unrealised gains – meaning you could be taxed on profits you haven’t actually received.

» A fixed $3 million cap – as super balances grow over time, more people will be affected.

» Cashflow risks for SMSFs – especially for those holding property, farms, or land, where selling assets just to pay tax could be a real issue.

With the federal election approaching, time is running out for the Senate to debate this tax. If it doesn’t pass before the election is called, it will automatically disappear – a huge win after two years of industry pushback.