A new bill has been tabled in Parliament on 14 October 2026 to address the possibility of excess superannuation contributions due to the transition to Payday Super. Among many tax adjustments, The Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 provides transitional relief for individuals who exceed their concessional caps due to overlapping obligations arising due to the switch to Payday Super for the 2026-27 financial year.
The amendment provides that certain employer contributions related to the June 2026 quarter may be disregarded when working out concessional contributions for the 2026-27 financial year. This is intended to avoid adverse impacts on individuals who may inadvertently exceed the cap in that year solely due to transition from the old superannuation guarantee framework.
The legislation is narrowly targeted to only apply in very specific circumstances related to the Payday Super transition. The issue would mostly affect high-income earners and employees who contribute to their super via salary sacrificing. The concessional cap for the 2026-27 income year is $32,500, and contributions above the cap which are not related to the Payday Super transition will not be subject to special treatment.
To learn more about Payday Super and how it impacts Sybiz Visipay users, visit our Payday Super page.
