The end of the financial year is an ideal time to review your current super obligations and prepare your business for any changes to super that will take effect from 1 July.
1. Ensure you pay your employees’ super before the due date
You must pay super to eligible employees at least four times a year before the quarterly due dates. An employee’s fund must receive their super payment on or before the due date, so it’s best to prepare early to avoid the super guarantee charge.
When a super due date falls on a weekend or public holiday (as they will in 2023), your contribution must be received by the fund on or before the next business day.
| Quarter | Period | Payment due date |
| 1 | 1 July – 30 September | 28 October |
| 2 | 1 October – 31 December | 28 January |
| 3 | 1 January – 31 March | 28 April |
| 4 | 1 April – 30 June | 28 July |
At Australian Retirement Trust (ART) depending on how you make a super payment, we recommend allowing several business days for the payment to be receipted by the nominated super fund(s). See below for more details.
The last business day for the 2022-23 financial year is Friday 30 June 2023.
- Direct Debit – Funds debited from the nominated account will be sent to the nominated superannuation fund(s) within five business days of us receiving both the contribution details and correct information. To ensure your contributions are receipted in the 2022-23 financial year, we encourage you to submit and pay your contributions by 3:30pm (AEST) on Thursday 22 June 2023.
- EFT – Funds paid by EFT will be sent to the nominated superannuation fund(s) within three business days of us receiving both the contribution details and correct payment. To ensure your contributions are receipted in the 2022-23 financial year, we encourage you to submit and pay your contributions by 3:30pm (AEST) on Monday 26 June 2023.
- BPAY® – Funds paid by BPAY® will be sent to the nominated superannuation fund(s) within three business days of us receiving both the contribution details and correct information. To ensure your contributions are receipted in the 2022-23 financial year, we encourage you to submit and pay your contributions by 3:30pm (AEST) on Monday 26 June 2023.
Upgrade to the ART Clearing House
You can simplify your super obligations and take the hassle out of paying multiple super funds for different employees with the ART Clearing House. This service is available to registered ART employers.
2. Prepare your employees for the increase to the Superannuation Guarantee rate
From 1 July 2023, the Superannuation Guarantee (SG) rate will rise to 11% p.a. It’s important to notify your employees about this change so they can understand how it will impact their take home pay if they receive their salary as part of a Total Remuneration Package. For those on higher incomes, the increase could also cause them to reach the concessional contribution cap of $27,500 if they are also making additional concessional contributions (e.g. salary sacrifice).
Share our SG factsheet with your team
We’ve created a factsheet you can share with your employees that explains the changes and compares the benefits and disadvantages of a higher SG rate.
Find out more about our EOFY super strategies for members.