As 30 June approaches, many business owners are focused on finishing the financial year strong. However, EOFY is also the ideal time to review your bookkeeping, payroll and superannuation processes to ensure your business is compliant and ready for the year ahead.
This year brings some significant changes for Australian businesses, including the closure of the Small Business Super Clearing House and the introduction of Payday Super from 1 July 2026.
For business owners across the Hunter Valley, Newcastle, Maitland, Cessnock and Singleton, understanding these changes now can help avoid costly mistakes, cash flow issues and compliance headaches later.
The Small Business Super Clearing House Is Closing
The Australian Taxation Office (ATO) will close the Small Business Super Clearing House (SBSCH) on 30 June 2026.
If your business has used the SBSCH to pay employee superannuation, now is the time to download any records you may need in the future, including:
- Super contribution history
- Payment confirmations
- Employee super fund details
Once the service closes, access to these records will no longer be available.
Businesses will need to transition to an alternative super payment solution. Many accounting and payroll systems now include integrated super payment functionality, making it easier to manage super obligations and prepare for the upcoming Payday Super changes.
If you’re unsure which solution is right for your business, now is the perfect time to review your systems and processes.
Payday Super Is Coming – Are You Ready?
One of the biggest payroll changes Australian businesses have seen in years is the introduction of Payday Super.
From 1 July 2026, employers will be required to pay superannuation at the same time wages are paid. Super contributions must reach an employee’s super fund within seven calendar days of payday, making accurate payroll processing more important than ever.
Why This Matters
Under the new rules:
- Super becomes a real-time payroll obligation.
- Payroll processing must be accurate and completed on time.
- Cash flow planning becomes more important.
- Payment approvals need to happen promptly.
- Businesses will have less flexibility to catch up on missed super payments later.
There will be very little room for error.
Incorrect employee details, invalid super fund information or payroll processing mistakes can cause super payments to be rejected or delayed. Because contributions must reach employee funds within strict timeframes, ensuring employee records are accurate and payroll is processed correctly the first time will be critical.
Is Your Payroll System Ready?
Businesses relying on outdated processes should start preparing now.
With Payday Super, payroll and superannuation obligations will need to be processed efficiently and accurately through compliant accounting and payroll software. Cloud accounting platforms such as Xero can help automate payroll and super processing, improve accuracy and reduce compliance risks.
If your business isn’t currently using cloud accounting software, or you’re not confident your payroll setup is ready for Payday Super, our Xero Setup and Training Services can help ensure your systems are configured correctly and ready for the transition.
Businesses wanting ongoing support can also learn more about our Payroll Processing and STP Compliance Services, designed to help employers stay compliant while reducing administrative workload.
July 2026 Could Create Cash Flow Pressure
One challenge many business owners may not be aware of is the overlap between the current super rules and the new Payday Super requirements.
During July 2026, businesses may need to:
- Pay superannuation for the June 2026 quarter under the existing rules.
- Pay super relating to wages processed from 1 July 2026 under the new Payday Super rules.
This means some businesses could face two separate super payment obligations during the same month.
Without planning ahead, this overlap could place unnecessary pressure on cash flow.
Don’t Overlook Contractor Super Obligations
Many business owners are surprised to learn that superannuation obligations don’t always apply only to employees.
In some circumstances, contractors engaged primarily for their labour may also be entitled to superannuation contributions.
With Payday Super approaching, it becomes even more important to correctly identify which workers are entitled to super and ensure payments are being processed correctly.
If you’re unsure whether your contractors qualify for superannuation, now is a good time to speak with your BAS Agent and review your arrangements.
EOFY Checklist for Hunter Valley Businesses
Before 30 June, take the opportunity to review the key areas of your business.
Business Records
✔ Reconcile bank accounts, credit cards and loans
✔ Review balance sheet accounts
✔ Investigate any unusual balances
Income and Accounts Receivable
✔ Ensure all sales and invoices have been entered
✔ Review outstanding customer debts
✔ Follow up overdue accounts
Expenses and Accounts Payable
✔ Enter all supplier invoices
✔ Review unpaid bills
✔ Clean up duplicate or incorrect transactions
Payroll and Superannuation
✔ Reconcile wages, PAYG withholding and superannuation
✔ Ensure employee records are accurate and up to date
✔ Prepare for STP finalisation
✔ Develop a plan for Payday Super
GST and BAS
✔ Review GST coding
✔ Check debtor and creditor balances
✔ Ensure BAS information is complete and accurate
Assets and Equipment
✔ Review business asset purchases
✔ Consider depreciation opportunities
✔ Confirm assets are correctly recorded
Completing these checks before 30 June can make tax time smoother and reduce the risk of unexpected issues later in the year.
If you’re unsure where your business stands, an EOFY Bookkeeping Health Check can help identify issues before they become costly problems.
How OnPoint Books Can Help
At OnPoint Books, we support small businesses throughout the Hunter Valley, Newcastle, Maitland, Cessnock and Singleton with professional bookkeeping, payroll and BAS services that help business owners stay organised, compliant and focused on growing their business.
Our services include:
- Bookkeeping services
- Accounts payable and accounts receivable management
- BAS preparation and lodgement
- Payroll processing and STP compliance
- Superannuation management
- Payroll tax management and reporting
- Xero setup, training and support
- EOFY bookkeeping health checks
- Taxable Payments Annual Report (TPAR) lodgement
Whether you’re preparing for EOFY, transitioning away from the Small Business Super Clearing House or getting ready for Payday Super, our Bookkeeping Services for Hunter Valley Businesses can provide the support you need.
You can also learn more about our BAS Preparation and Lodgement Services to ensure your compliance obligations are up to date throughout the year.
Ready to Get EOFY Sorted?
EOFY doesn’t have to be stressful.
A proactive review of your bookkeeping, payroll and superannuation processes now can save significant time, money and frustration later.
If you’d like support preparing for EOFY or ensuring your business is ready for Payday Super, contact OnPoint Books today.