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Small business owner prepares for payday super reforms

Created at 31 May · 11:03 PM1 source
IN SHORT

Tasmanian business owner Rachel Power is preparing for upcoming Payday Super reforms by shifting to weekly super payments. She believes this change can improve cash flow systems for other businesses.

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Who's Involved

Rachel Power
Tasmanian business owner preparing for Payday Super reforms

↳ Why This Matters

Upcoming reforms to superannuation payment schedules, known as Payday Super, are prompting businesses to re-evaluate their financial processes. This shift aims to ensure timely payments and potentially improve overall cash flow management for small and medium-sized enterprises.

Key facts

  • Payday Super reforms are approaching.
  • Tasmanian business owner Rachel Power is shifting to weekly super payments.
  • Power believes this change can improve cash flow systems.

Upcoming reforms to superannuation payment schedules, known as Payday Super, are prompting businesses to re-evaluate their financial processes. This shift aims to ensure timely payments and potentially improve overall cash flow management for small and medium-sized enterprises.

Frequently asked questions

The Payday Super reforms are changes to the superannuation payment schedule that require employers to pay superannuation contributions more frequently.

Rachel Power is shifting her business to make weekly super payments instead of the previous schedule.

She believes that making weekly payments can help businesses improve their cash flow systems and stay ahead of the curve.

What Happens Next

01Payday Super reforms will be implemented.

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Cadence

How It Developed

31 May · 11:00 PM
Tasmanian business owner Rachel Power shares how shifting to weekly super payments could help businesses improve cash flow.
SmartCompany via PiQSuite

Sources

T1
'I learned my lesson': How one small business is preparing for payday superm.piqsuite.com

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