SMEs need extra $124K to meet new payday Super rules

Payday super requirements will cause cashflow crunch for SMEs – report

Businesses will need an extra $124,000 in working capital on average to meet the new Payday Super rules, according to modelling prepared by employment solutions provider Employment Hero. The research aims to shed light on the financial challenges facing Australia’s small and medium enterprises (SMEs) as a result of the government’s new Payday Super rules that are set to take effect in less than 12 months. Corroborating this, its survey of busine…

SMEs need extra $124K to meet new payday Super rules

Survey shows 65% of businesses expect moderate to huge operational impact from Payday Super, while 15% remain completely unaware. Read on.