What is the difference between STP finalisation and EOFY tax lodgement?

STP finalisation is the employer's declaration that all wages, PAYG withholding, and reportable super contributions reported through Single Touch Payroll for the financial year are accurate and complete. It is lodged with the ATO by 14 July 2026 for standard employees. EOFY tax lodgement is a separate process where the business lodges its income tax return through a registered tax agent, typically between July and the following May. STP finalisation pre fills the employee tax returns. The business income tax return covers the business itself.

Do I still need to pay quarterly super for the June 2026 quarter?

Yes. The April to June 2026 quarter is the final quarterly super guarantee payment under the existing system, due to your employees' super funds by 28 July 2026. The 12 percent SG rate applies. From 1 July 2026, Payday Super replaces the quarterly cycle, and you will pay super on each payday rather than each quarter. The June quarter sits in the transition window between the two systems, so paying on time and in full is more important than usual.

What happens if I miss the STP finalisation deadline on 14 July 2026?

Late STP finalisation triggers failure to lodge penalties and delays your employees' tax returns being pre filled, which generates calls from the ATO and from the employees themselves. The ATO can apply administrative penalties based on the size of the business and the lateness of the lodgement. Beyond penalties, late finalisation creates downstream amendment work if errors surface after employees have already lodged. The practical fix is to start the reconciliation in early June, not the first week of July.

Can a bookkeeper finalise STP and lodge BAS, or do I need an accountant?

A registered BAS agent can lawfully prepare and lodge BAS and IAS, finalise STP, request PAYG instalment variations, and negotiate ATO payment plans for BAS related debts. These services do not require a tax agent. What a BAS agent does not do is prepare and lodge the business income tax return. That work sits with a registered tax agent. Most Perth small businesses use both, a bookkeeper or BAS agent for the year round work and a tax agent for the annual income tax return.

How do I prepare my payroll software for Payday Super starting 1 July 2026?

Confirm your payroll software is on a Payday Super ready version before 1 July. The major Australian payroll providers have released updates through the first half of 2026. Check that your super clearing house can handle weekly or fortnightly contribution batches within the seven business day window. Test a Payday Super run in June if your software supports a dry run mode. If your current setup cannot meet the new timing, change clearing house before the cutover rather than after. Our team can review your current payroll stack and confirm readiness as part of a pre cutover check.

What records do I need to keep after EOFY 2026 and for how long?

The ATO requires you to keep business records that explain transactions and tax positions for five years from when the record was prepared, the transaction was completed, or the relevant return was lodged, whichever is later. This includes sales and purchase invoices, bank statements, payroll records, super payment evidence, BAS working papers, and asset purchase documentation. Records can be kept in paper or electronic form. For payroll records specifically, the Fair Work Ombudsman requires seven years of retention, which is the longer of the two windows.

What is the cost of using a Perth BAS agent for EOFY work?

Cost depends on the size of the business, the cleanliness of the bookkeeping coming into year end, and whether the engagement is once off or part of an ongoing retainer. For small businesses with up to ten employees and reconciled monthly bookkeeping, EOFY work typically falls between a few hundred and a few thousand dollars. The work is faster and cheaper when bookkeeping is current rather than three quarters behind. At My Bookkeeper Perth we provide fixed price quotes after a free consultation.

Tips

Payday Super 2026: What Perth Employers Need To Do Now

Published on

8 July 2026

Justine Jarratt

Quarterly super is gone. Here is what changed on 1 July and what to fix in your payroll this month. Payday Super is no longer a proposal to watch. The Treasury Laws Amendment (Payday Superannuation) Act 2025 passed Parliament, and from 1 July 2026 every employer in Australia must pay superannuation guarantee contributions with every pay run, not once a quarter. Any payday on or after 1 July 2026 falls under the new rules, and contributions must actually be received by each employee’s super fund within seven business days of that payday. We are already seeing the practical impact in Perth payrolls. Some businesses were ready. Many are still running processes built for the quarterly cycle and have not realised the deadline is no longer the 28th day after quarter end. If that describes your business, the good news is the ATO has published a measured first year compliance approach, and the fixes are straightforward if you make them now.

What Actually Changed on 1 July 2026

Three things changed at once. First, timing. Super is now due within seven business days of every payday, whether you pay weekly, fortnightly or monthly. The seven day clock covers the full journey, meaning the money must reach the fund, not merely leave your bank account, within that window. Second, the calculation base. Super is now calculated on qualifying earnings, a new definition that covers ordinary time earnings along with certain leave payments, bonuses and lump sums. The day you run payroll becomes your qualifying earnings day, and your STP enabled payroll software reports qualifying earnings and the super liability with each pay event. Third, the plumbing. The ATO’s Small Business Superannuation Clearing House closed on 1 July 2026. If you were still using it, you need an alternative immediately. For most of our clients that means paying super directly through Xero, which handles the clearing function and the STP reporting in one workflow.

The ATO’s First Year Approach Is Not a Free Pass

The ATO has issued Practical Compliance Guideline PCG 2026/1 setting out how it will allocate compliance resources during the first year. Employers are sorted into low, medium and high risk categories based on how genuinely they are trying to comply and how quickly they correct problems. That is a sensible transition framework, but it is guidance about where the ATO looks first, not a change to the law. If a shortfall exists for a qualifying earnings day, the law applies regardless of your risk rating. The consequences of running late have also sharpened. The old quarterly super guarantee charge process, including late payment offsets, ended on 30 June 2026. Under the redesigned charge, on time contributions and most eligible late contributions remain tax deductible, but interest and penalty components for late payment are not. Late super now costs real money and creates real exposure, including for directors, who cannot rely on safe harbour protections if employee entitlements are behind.

The Cashflow Reality for Perth Businesses

The compliance mechanics are manageable. The harder adjustment for many Perth businesses is cashflow. Under the quarterly system, super sat in your account for up to four months before it was due. That buffer is gone. If you run a hospitality venue that pays weekly, super now leaves your account fifty two times a year instead of four. Trades and construction businesses juggling progress payments and retention feel the same squeeze from the other direction, because wages go out on schedule whether or not the head contractor has paid. The fix is to stop treating super as a future liability and start treating it as part of the cost of each pay run. Price jobs, rosters and quotes with super included in the labour cost, and keep a dedicated buffer so a slow month never forces a choice between suppliers and super. If your business runs on seasonal revenue, which is common across Perth hospitality and tourism, this is the year to build a proper cashflow forecast around your pay cycle rather than your BAS cycle.

What To Do This Month

Start by confirming your payroll software is on the current payday super settings and that super batches are being created and authorised with every pay run, not parked for the end of the quarter. Then check the payment journey. Direct debit processing, clearing times and fund allocation all eat into the seven business days, so authorise super the same day you run payroll rather than days later. Next, review how qualifying earnings are mapped in your pay items. Bonuses, allowances and leave loadings that were handled loosely under the old rules can now create a shortfall on a specific qualifying earnings day, which is much more visible to the ATO than an annual rounding difference. Finally, if you were using the closed clearing house, move to a supported channel now, not at your next pay run. If any of that sounds unfamiliar, it is exactly the work our payroll services team has been doing for clients since the legislation passed. We review the pay item mapping, set up the payment workflow in Xero, and align the super cycle with your BAS and IAS lodgements so nothing falls between systems.

Get Your Payroll Payday Super Ready With My Bookkeeper Perth

Payday Super is live and the ATO’s first year framework rewards employers who act early. My Bookkeeper Perth is led by a TPB registered BAS agent with more than 19 years of experience supporting Perth businesses through every major payroll change, from SuperStream to Single Touch Payroll. Call us on (08) 9490 9555 or book a free, confidential consultation through our contact page and we will review your payroll setup before your next pay run.

FAQ: PAYDAY SUPER 2026

When did Payday Super start?

How long do I have to pay super under Payday Super?

What are qualifying earnings?

Does Payday Super apply to small businesses?

What happened to the ATO Small Business Superannuation Clearing House?

What happens if I pay super late under the new rules?

Do I still need to lodge an SGC statement?

Justine Jarratt

With over 19 years of experience, Justine leads My Bookkeeper Perth with a practical, hands-on approach and a strong understanding of small business needs. As a registered BAS Agent, she brings depth and accuracy to every client relationship, delivering compliant bookkeeping and meaningful financial insights. Justine is committed to helping clients stay organised, informed, and confident in their numbers while building long-term partnerships based on trust and transparency.