<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>A major superannuation shake-up is set to impact more than 14 million </span><a href="https://www.9news.com.au/australia" rel="" target="" title="Australian"><span>Australian</span></a><span> workers but many employers are still in the dark ahead of the July 1 deadline. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Action Dance Academy director Jodie Williams is one of nearly a million small business owners racing to prepare for a massive shift in how she pays her employees' super.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It is a fairly big change," Williams told 9News.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>COST OF LIVING:</span></strong><span> </span><a href="https://www.9news.com.au/national/cost-of-living-how-queensland-couple-sandra-and-peter-rielly-keep-their-expenses-to-under-15-000-dollars-a-year/6952ee63-af6d-4f59-9cbf-63e79e78e8e0" target="_blank"><strong><span>How Aussie couple keep their expenses under $15,000 a year</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LATEST:</span></strong><span> </span><a href="https://celebrity.nine.com.au/latest/jackie-o-henderson-steps-away-from-kyle-and-jackie-o-show-temporarily/6a699ce4-0884-4845-a501-577faf318752" rel="" target="_blank" title=""><strong><span>Jackie 'O' taking a break from KIIS after brutal on-air clash with Kyle Sandilands</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There'll be times that cash flow could be an issue."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>From July 1, bosses must pay superannuation at the same time as wages, not quarterly.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/major-superannuation-shakeup-set-to-impact-more-than-14-million-workers/9a0798ed-c450-43eb-838c-a6555a2535a3" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The money has to hit the employee's fund within seven business days.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If it is late, penalties of up to 60 per cent of the shortfall plus interest can apply.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Employment Hero superannuation general manager Rob Dunn said up to 58 per cent of employers were unaware of the payday super changes.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Therefore they haven't started to change their process to get ready," Dunn said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"So anyone who's using that platform should be looking to make sure that they're ready to change to modern embedded solutions."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/mexico-travel-warning-updated-after-drug-kingpin-killed/23bbf797-93ea-4238-8ce7-842a00ae22e9" target="_blank"><strong><span>Warning to Aussies in tourist hotspot after drug boss killed in shootout</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>LATEST:</span></strong><span> </span><a href="https://www.9news.com.au/national/chris-baghsarian-police-search-turns-to-glenorie-bushland/d43cafd9-53ed-44e2-b9e7-275eb3d90441" rel="" target="" title="Torched car 'forensically linked' to kidnapped grandfather"><strong><span>Torched car 'forensically linked' to kidnapped grandfather</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The earlier your money hits your fund, the more time it has to grow.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>For example, a 25-year-old whose super is paid fortnightly instead of quarterly could earn an extra $4300 by retirement.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Each payday, employees should check that 12 per cent of their pay has gone into their super fund.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Employees can use the Australian Tax Office's estimate tool to help work out the correct number.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If money is missing, employees should talk to their bosses.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If that fails, employees should lodge a complaint with the Australian Tax Office online.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.</span></em><span></span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><em><span>NEVER MISS A STORY:</span></em></strong><span> </span><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><strong><em><span>Download the 9NEWS App here via</span></em></strong><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="_blank"><strong><em><span>Apple</span></em></strong></a><span> </span><strong><em><span>and</span></em></strong><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="_blank"><strong><em><span>Google Play</span></em></strong></a></li><li><strong><em><span>Make 9News your preferred source on Google by</span></em></strong><span> </span><a href="https://9.nine.com.au/8x987w" target="_blank"><strong><em><span>ticking this box here</span></em></strong></a></li><li><strong><em><span>Sign up to</span></em></strong><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="_blank"><strong><em><span>our breaking newsletter here</span></em></strong></a></li></ul></div></div>