Quantify Accounting

27/05/2026

Here is a practical summary of the new Payday Super rules for Australian employers.

What is changing?

From 1 July 2026, employers must pay employees’ superannuation guarantee (SG) at the same time as wages are paid, rather than quarterly.

Currently, employers can pay SG quarterly (28 days after quarter end). Under the new system, super contributions must generally reach the employee’s super fund within 7 business days of payday.

Key Rules
1. Super must be paid each payday

If wages are paid:

weekly → super paid weekly
fortnightly → super paid fortnightly
monthly → super paid monthly

This applies to most employers.

2. Payments must reach the fund quickly

Super contributions and reporting data must generally be received by the super fund within:

7 business days of payday

There are limited exceptions:

new employees or changed funds generally have 20 business days for the first contribution.
3. SG rate will be 12%

From 1 July 2025 the SG rate is already 12%, and Payday Super continues using this rate.

4. “Qualifying Earnings” replaces OTE terminology

The legislation introduces a new concept called Qualifying Earnings (QE).

In practice, QE is expected to closely mirror current:

Ordinary Time Earnings (OTE)
rules.

QE generally includes:

normal earnings
salary sacrifice amounts
certain contractor payments caught under SG rules.
5. Annual Maximum Contribution Base

The maximum contribution base (MCB) will move from a quarterly limit to an annual limit.

This mainly affects higher-income employees.

Major Practical Impacts for Businesses
Cash flow pressure

Businesses lose the benefit of holding super cash until quarter end.

This will particularly affect:

labour-heavy businesses
seasonal businesses
employers already struggling with cash flow.
Payroll systems must be updated

Businesses may need to:

update payroll software
automate super clearing
improve onboarding processes
ensure fund details are correct
monitor rejected payments quickly.
ATO monitoring will become much tighter

The ATO will effectively be able to compare:

STP wage reporting
against
super fund receipt data

almost in real time.

Late or missing super will likely become much easier for the ATO to detect.

SBSCH Closing

The ATO Small Business Superannuation Clearing House (SBSCH) will close from 1 July 2026 for existing users.

Small businesses using SBSCH should start planning alternative systems now.

Penalties & Compliance Risks

Late super can trigger:

Super Guarantee Charge (SGC)
penalties
interest
loss of tax deductions
possible director penalty exposure in serious cases.

Because super becomes a payroll-by-payroll obligation, employers with poor systems or cash flow may face increased compliance risk.

What Employers Should Do Now

Recommended preparation steps:

Review payroll software compatibility
Check clearing house arrangements
Improve onboarding procedures
Tighten payroll timing controls
Review cash flow forecasting
Consider paying super with payroll now as a trial run
Educate clients/staff before 1 July 2026.
Likely Accounting Industry Impact

For accountants/bookkeepers this will probably mean:

more payroll involvement
more frequent processing
greater compliance monitoring
increased advisory around cash flow
more ATO debt issues for struggling employers

It may also significantly reduce historical unpaid super problems over time.

The official ATO Payday Super page is here:
ATO Payday Super Information

30/04/2026

01/04/2026

🚨 Behind on Your Tax? It’s Not Too Late to Fix It

If you’ve fallen behind on your tax returns or BAS lodgements, you’re not alone — and more importantly, it’s fixable. Getting up to date with the ATO can bring immediate and long-term benefits.

✅ 1. Stop the Stress and Uncertainty

Unlodged returns can hang over you for years. Getting up to date gives you clarity on where you stand and removes that constant worry.

💰 2. Reduce or Eliminate ATO Penalties

The ATO is often more lenient when you come forward voluntarily. In many cases, we can request remission of penalties and interest, especially if you engage early.

📊 3. Get Back in Control of Your Finances

Once your lodgements are current, you can properly understand your tax position, cash flow, and obligations — critical for both individuals and small businesses.

🏦 4. Access Finance Again

Banks and lenders often require up-to-date tax returns. Whether it’s a home loan or business finance, being compliant puts you back in the game.

🔒 5. Avoid ATO Enforcement Action

The longer things are left, the higher the risk of ATO action — including default assessments, garnishee notices, or director penalties. Acting early helps avoid escalation.

📅 6. Get Back on Track Moving Forward

Once everything is lodged, we can help set up manageable payment plans and systems so you stay compliant going forward.

👩‍💼 How We Help at Quantify Accounting

At Quantify Accounting Solutions, we specialise in helping clients who are behind — sometimes years behind — including:

Individual tax returns
Small business tax returns
BAS and GST lodgements
ATO debt negotiation & payment plans
Penalty and interest remission requests

We handle the process without judgment, step-by-step, and deal directly with the ATO on your behalf.

👉 Take the First Step

The hardest part is getting started — but once you do, the relief is immediate.

📩 Message us today or book a confidential chat
[email protected]
🌐 www.quantifyaccounting.com.au

01/04/2026

🚨 GST FRAUD = JAIL TIME (Real Case) 🚨

A man has just been sentenced to 1 year and 2 months in prison after trying to claim over $100,000 in fake GST refunds.

Here’s what happened 👇
❌ Lodged false BAS statements
❌ Claimed refunds for a business that wasn’t legitimate
❌ Used fake expenses to inflate claims

👉 BUT here’s the kicker…
💡 His bank detected unusually large deposits and alerted authorities

From there:
➡️ The ATO stepped in
➡️ Investigated the activity
➡️ Criminal charges followed

⚠️ What this means for you:

The ATO is now:
✔️ Data matching in real-time
✔️ Working closely with banks
✔️ Actively targeting GST fraud

This is NOT a grey area anymore.

💡 Simple rule:

If you can’t back it up with real business activity + proper records
👉 Don’t claim it.

👩‍💼 Need help getting it right?

If you're unsure about your BAS, GST, or records — we help clients stay compliant and avoid serious penalties.

📩 Message us or book a consult
🌐 www.quantifyaccounting.com.au

01/04/2026

ATO Warning for NFPs

The Australian Taxation Office is seeing non-charitable not-for-profits (NFPs) struggle to lodge their new annual self-review return, required from 1 July 2024.

🚨 Common Issues
Outdated details on the Australian Business Register (ABR)
Not set up in Online services for business
Missing or incorrect governing documents
Trouble accessing myID and Relationship Authorisation Manager (RAM)
⚠️ Key Requirements
NFPs must lodge annually to confirm income tax exemption
Any changes to details must be reported within 28 days
New associates may need to complete NAT 2943 form with proof
💡 ATO Tips to Avoid Problems
✅ Update ABR details before lodging
✅ Ensure access to Online services (via myID + RAM)
✅ Review governing documents for required clauses
✅ Prepare answers using the ATO question guide
✅ Have ABN + reference number ready if lodging by phone

👉 If setup issues persist, NFPs can lodge via the ATO phone service — but must pass identity checks.

29/03/2026

🧾 What is an ASIC Agent?

An ASIC agent is someone (often your accountant) who is authorised to deal with Australian Securities and Investments Commission (ASIC) on behalf of your company.

This authority is given using ASIC Form 362.

🔑 What does an ASIC Agent do?

Your ASIC agent helps manage your company’s compliance by:

📄 Lodging documents
(e.g. changes to directors, addresses, shareholders)
🏢 Registering companies
📬 Receiving ASIC correspondence
(annual review statements, invoices, notices)
📊 Maintaining company records
⏰ Keeping you compliant with deadlines
(especially annual reviews and fees)

👉 In practice, they act as the “middle person” between you and ASIC, handling the admin so you don’t miss anything important.

⚠️ Important: Who is actually responsible?

Even though your accountant/agent handles this for you:

👉 Company directors are still legally responsible for:

Keeping company details up to date
Reviewing ASIC annual statements
Paying fees on time

Your agent helps—but does not take over your legal obligations.

📋 Key responsibilities of the agent

ASIC agents must:

✔️ Be properly registered with ASIC
✔️ Only lodge documents with proper authority
✔️ Ensure all lodgements are accurate and not misleading
✔️ Keep records (including signed forms) for at least 7 years
✔️ Protect confidential client information
✔️ Act honestly and professionally

They also must follow ASIC’s Electronic Lodgement Protocol (ELP) when submitting documents online.

🚨 Why this role is important

A good ASIC agent:

Prevents missed deadlines (avoids late fees & deregistration)
Ensures your company records stay correct
Reduces compliance stress for business owners
Helps identify issues early (e.g. incorrect registers)

But poor management can cause serious problems—like missed annual reviews or incorrect filings.

23/03/2026

⚠️ New Sole Trader? Here’s the Tax Trap No One Warns You About…

If you’ve recently moved from employee → sole trader, this could save you thousands (and a lot of stress).

When you were an employee, your tax was taken out of your wages automatically.

👉 As a sole trader… nothing is withheld.

That means the money hitting your bank account is NOT all yours.

💣 Here’s where people get caught:

Year 1 → No tax paid during the year

Tax return lodged → Big tax bill hits

ATO then adds → PAYG instalments for next year

➡️ Result? You could be paying last year’s tax + this year’s tax at the same time

This is one of the biggest reasons small business owners fall behind with the ATO.

💡 Simple fix:

✔ Set aside 25–35% of income for tax
✔ Use a separate “ATO savings” account
✔ Get advice early (not after the bill arrives)

Starting a business is exciting — but tax surprises aren’t.

👉 If you’ve just gone out on your own, send me a message and I’ll help you stay ahead (not behind).

23/03/2026

The ATO is cracking down on compliance. Here are five ways your small business can remain compliant and stay in the ATO’s good books.

The ATO is cracking down on compliance. Here are five ways your small business can remain compliant and stay in the ATO’s good books.