The Small Business Superannuation Clearing House (SBSCH) will stop accepting new registrations on 1 October 2025. Existing users can continue to use the service until it closes completely on 1 July 2026.
Cut off dates for member transactions
If you want to make a personal contribution1 to your super account before the end of the 2024/25 financial year, you'll need to submit it by Monday 23 June 2025 to ensure it is received and allocated to your account by 30 June 2025.
The Small Business Superannuation Clearing House (SBSCH) will be closed permanently from 1 July 2026 as part of the Payday Super reform. It is not accepting new registrants. If you're an existing registered user, you can continue using the SBSCH until 11:59 pm AEST on 30 June 2026.
Super is due to be paid monthly or quarterly, by 28th of the following month. If the due date is on a Saturday, Sunday or public holiday, making payments on the following business day is possible. As an employer you must make Superannuation Guarantee (SG) payments by the due date to avoid a government penalty.
On 1 July 2025, the Superannuation Guarantee (SG) – the minimum contribution your employer must make into your super fund – increased from 11.5% to 12% of your base earnings (or ordinary time earnings).
The transfer balance cap from 1 July 2025 is $2 million, an increase of $100,000 from 2024-25. This means that those who have commenced retirement phase income streams for the first time on or after 1 July 2025 will generally be able to commence retirement phase income streams with balances of up to $2 million.
You don't have to pay SG for your employee's earnings above a certain limit, called the quarterly maximum super contribution base (MCB). This MCB amount is indexed annually and is usually available before the start of the financial year. The income limit for the 2025–26 financial year is $62,500 per quarter.
You can make an IRA contribution for a given year anytime between January 1 and the tax-filing deadline of the following year. You can make a 2025 IRA contribution until April 15, 2026. If you want to get a head start with your 2026 IRA contribution, you can make it as early as January 1, 2026.
Currently the transfer balance cap is $2 million. After you retire any amounts over the cap need to be transferred into an accumulation account or withdrawn taken out as a lump sum. Earnings on any excess amount in your retirement account are taxed at 15%.
In the organisation's super balance update, it found 2.5 per cent of the population have a super account of more than $1 million, as of June 2021. This represents 417,567 individuals, ASFA said, and is a 29 per cent increase from the 322,200 individuals who held over $1 million in June 2019.
Ensuring your super is paid on time
From 1 July 2026, employers must pay Superannuation Guarantee (SG) contributions each pay cycle rather than quarterly, and payments must reach your fund within seven days of payday.
For this reason, we recommend that you allow up to Ten (10) Business Days for payments to be received by all Nominated Superannuation Account providers. The day your payment reaches the Nominated Superannuation Account provider depends on three factors: How you make your payment to SCH Online.
The maximum you can contribute is $300,000 or the sale price of your home, whichever is less. You may make more than one contribution, but the total must not exceed this maximum.
Retiring at 60 with $500,000 in super is possible but challenging, depending heavily on your spending, lifestyle, and if you qualify for the Australian Age Pension. You might cover modest expenses using strategies like drawing down around $20,000 annually (using the 4% rule as a guide) plus other income, but it requires careful budgeting, potentially part-time work, and reducing living costs. A financial advisor can help tailor a plan, as $500k alone usually supports a basic to moderate retirement, not a lavish one.
Yet, employers can make contributions until their tax deadline for the year (e.g. for 2025, the business typically has until April 15, 2026 if a c-corp, sole proprietor, single member LLC, or LLC taxed as a corporation, but is March 16, 2026 for a partnership, s-corp, or LLC taxed as a partnership).
RRSP contribution deadline
Eligible Canadians have until March 2, 2026 to make RRSP contributions for the 2025 tax year.
Initially due to expire in April 2023, the deadline has been extended to 5 April 2025 due to high demand from taxpayers seeking to take advantage of this offer. However, starting from 6th April 2025, you will only be able to fill gaps in your NI record for tax years from the 2019/20 tax year onward.
From 1 July 2025, the super guarantee, that is - the percentage of your wage that your employer is required to pay into your super account, will increase from 11.5% to 12.0%.
Yes — a couple can retire on $700,000 in Australia, particularly if they own their home and are eligible for Age Pension support later in retirement. Retiring at 65 with this balance could mean an annual income closer to or above the ASFA 'comfortable' standard for couples.
Any contributions you make over the cap will be taxed at your marginal rate, less a 15% tax rebate. You may also be charged interest.
With that being said, what is a wealthy retirement? Well, according to ASFA, a comfortable retirement for a couple is around $75,000 per year and $53,000 for a single person. Given this, I would consider achieving a retirement income of, say, 30% over these amounts to be a wealthy retirement.
$800,000 can last anywhere from 15 to over 30 years in retirement, depending heavily on your annual spending, investment returns, and additional income (like Social Security). A common guideline, the 4% Rule, suggests withdrawing $32,000 in the first year (adjusting for inflation), potentially lasting 30 years; however, higher spending (e.g., $50k-$60k/year) reduces longevity to 20-29 years, while a lower withdrawal rate or income from other sources significantly extends it.