From 1 July 2026, Australia’s superannuation system is set to change in a meaningful way with the introduction of “payday super.” Instead of employers paying super quarterly, super contributions will be paid at the same time as your salary or wages. On the surface, this sounds like a clear win - and in many ways it is. But for high income earners, particularly those who change jobs during the year, payday super brings some new risks that are worth understanding. What Is Payda

You may have heard recent discussions about Division 296, often referred to as the “$3 million super tax”. Like many super changes, it has generated plenty of headlines - and a fair bit of confusion. What Is Division 296? Division 296 is a new tax that applies to individuals whose total superannuation balance exceeds $3 million. From 1 July 2026, earnings attributable to the portion of your super $3m may be subject to additional tax, on top of the existing 15% tax that genera

Are You a HENRY? High Earner… Not Rich Yet If you’re earning a great income but still wonder, “Why doesn’t this feel easier?” — you’re not alone. There’s a growing group of Australians known as HENRYs: High Earners, Not Rich Yet. These are often professionals or business owners in their 30s and 40s with strong incomes, but not a lot of accumulated wealth (yet). Being a HENRY isn’t a bad thing. In fact, it’s often a really powerful position to be in, as long as income eventua

Superannuation is a great way to save for retirement, but sometimes you might contribute more than the annual concessional (before-tax) cap. The cap is currently $30,000 and includes employer contributions and salary sacrifice. When you submit your tax return, If an excess occurs, the Australian Taxation Office (ATO) will send you a letter called an “excess concessional contributions determination.” This letter gives you two choices for handling the excess amount: Your Two

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