Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) 2024

✦ Plain-English Summary

# Paid Parental Leave Amendment (Adding Superannuation for a More Secure Retirement) 2024

## What it does
Parents who take paid parental leave will now have superannuation contributions added to their retirement savings. The government will calculate these contributions based on the superannuation guarantee percentage and pay them into a complying super fund in the year after the parental leave payment is made.

## Why it matters
Taking time out of work to care for a newborn currently means missing out on employer super contributions, which hurts your retirement savings. This change means parents won't lose that money during parental leave, reducing the long-term financial hit of time out of the workforce.

## Key details
- **Who it affects**: Anyone receiving paid parental leave payments under the Paid Parental Leave Act
- **How much**: Contributions are calculated using the superannuation guarantee (SG) charge percentage for that income year
- **When it starts**: The day after the bill receives Royal Assent (immediately upon becoming law)
- **Who manages it**: The Tax Commissioner handles administration, with payments going to your nominated complying super fund

Official Description

Amends the: Paid Parental Leave Act 2010 and Small Superannuation Accounts Act 1995 to provide a superannuation contribution for people receiving parental leave pay in respect of children born (or regarded as having been born for the purposes of the Act) on or after 1 July 2025; Fair Work Act 2009 to make a minor technical amendment in relation to unpaid parental leave; and Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to make consequential amendments.

Committee Referrals

Senate Standing Committee for the Scrutiny of Bills

Full bill PDF →APH page →

Audit History

Introduced

22 Aug 2024

Last updated on APH

10 Apr 2026

Outcome date

1 Oct 2024

Last checked by Crossbench

today

Full text indexed

today

🗳️

No formal division recorded

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