Policy updates

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Payday Super: Changes to when super payments must be made, calculation on qualifying earnings and timing of receipt

From 1 July 2026, PAYDAY SUPER reforms require employers to pay super guarantee on payday, calculate contributions on qualifying earnings (beyond just ordinary time earnings), and ensure contributions are received by funds within 7 business days. Includes the closure of the SBSCH and strengthened digital reporting requirements. Draft ruling LCR 2026/D3 guides the calculation and assessment of super guarantee charge under the new regime. Aims to improve timeliness and compliance of super payments.

Editorial impact label: High

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Jul 1, 2026

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Payday Super reforms apply from 1 July 2026

The Payroll Superannuation system is reformed so that from 1 July 2026 employers must calculate super guarantee contributions at 12% of qualifying earnings and make contributions on each payday, instead of quarterly, with super funds to receive contributions within 7 business days of payday. The Small Business Superannuation Clearing House (SBSCH) closed as of 1 July 2026. These changes aim to improve timeliness and certainty of employee super contributions. Employers must update payroll and reporting systems accordingly. Non-compliance leads to Super Guarantee Charge liabilities.

Editorial impact label: High

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Jul 1, 2026

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Payday Super reforms commence and Small Business Superannuation Clearing House to close from 1 July 2026

The “Payday Super” policy requires employers to pay superannuation guarantee contributions each payday (weekly, fortnightly or monthly) based on “qualifying earnings,” instead of quarterly payments. The Small Business Superannuation Clearing House (SBSCH) will close permanently from 1 July 2026. Employers must ensure contributions reach super funds within 7 business days and report year-to-date qualifying earnings and super liability via STP every payday. Transitional rules apply for payments in July 2026.

Editorial impact label: High

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Jul 1, 2026

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Pakistan

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Budget 2026-27 Salient Features – Foreign Payments & Advance Tax Changes (Pakistan)

Published in Pakistan’s official FBR Budget document for 2026-27 about three months ago, this policy reduces advance tax on foreign remittances made through debit, credit and prepaid cards from **5% to 0.5%**. It also abolishes the Capital Value Tax (CVT) on foreign moveable and immovable assets of resident Pakistanis. Further, it makes tax deducted on e-commerce transactions adjustable for sellers with turnover exceeding Rs. 200 million. These changes are aimed at easing cross-border cash flow, encouraging digital trade, and reducing tax burden on diaspora or overseas income holders.

Editorial impact label: High

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Jul 1, 2026

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IRS modifies standard mileage rates for business, medical and moving purposes for expenses incurred on or after July 1, 2026

Announcement 2026-11 revises the optional standard mileage rates: business deduction rate increased to 76¢/mile, medical and moving expense rate increased to 23.5¢/mile. Applies to expenses paid or incurred and allowances paid on or after July 1, 2026. Charitable rate remains fixed at 14¢/mile. Key for deductions of travel, moving, medical expenses.

Editorial impact label: Low

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Jul 1, 2026

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Change of Tax Reference Numbers for Estates, Trusts & Unit Trusts (Singapore)

Singapore is replacing old ITR IDs (10-character) with new ASGD IDs (9-character “AXXXXXXXX”) for Estates, Trusts, Unit Trusts. Transition phase mid-2026, full exclusive use of ASGD by Jan 2027. Payment instructions, filings and notices must reflect new ID.

Editorial impact label: Low

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Jul 1, 2026

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Law Companion Ruling LCR 2026/D3: Payday Super — calculation and assessment of the superannuation guarantee charge

This draft ruling clarifies how the superannuation guarantee (SG) charge will be calculated and assessed under the Payday Super reforms, which apply from 1 July 2026. It explains the liability for SG shortfalls related to Qualifying Earnings (QE days), finalisation of shortfall, and calculating individual vs employer obligations. 📌 Employers must understand revised timings and reporting obligations to avoid punitive charges.

Editorial impact label: High

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Jul 1, 2026

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Pakistan

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Budget 2026-27 Tax Measures: Pakistan — Finance Act 2026

Budget 2026-27 in Pakistan introduced several tax changes including: reduced tax rates for salaried individuals; increase in threshold for highest tax rate; abolition of tax on deemed income from immovable property (section 7E); rationalization of super tax; reduction of withholding rates under sections 236C/236K for advance tax on property transactions; reduced tax collection from exporters; and extension of concessionary rate for IT/IT-enabled export services until Tax Year 2029.

Editorial impact label: High

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Jul 1, 2026

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Contribution Standard v3.0 including New Payments Platform (NPP) requirements

The ATO has released SuperStream Contributions standard v3.0 which upgrades the SuperStream data and payment standard to reduce errors, improve speed and integrity of payments. Key changes include: requiring super funds to accept contributions via the New Payments Platform (NPP) from 1 July 2026; inclusion of NPP as an approved payment method; a new fund verification message for employers; standardising error messages; and enhanced employer visibility of fund changes via the Fund Validation Service. These changes are intended to support the Government’s Payday Super measures which commence 1 July 2026. ([softwaredevelopers.ato.gov.au](https://softwaredevelopers.ato.gov.au/ContributionV3?utm_source=openai))

Editorial impact label: High

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Jul 1, 2026

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Pakistan

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Finance Act, 2026 – Withholding Tax, Minimum Tax & Turnover Threshold Updates (Pakistan)

Under Pakistan’s budget 2026-27, the Finance Act introduced several changes: **withholding tax on income from social media platforms**, revised rates for services including professionals, **increase in minimum tax rate for distributors and wholesalers**, and elevated **turnover threshold for exemption** from withholding tax for small traders from Rs 100 million to Rs 200 million. These changes came into effect from 1 July 2026 as part of Finance Bill provisions.

Editorial impact label: High

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Jul 1, 2026

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Statement of formula rates and thresholds – cents per kilometre deduction rate for car expenses 91 cents from 1 July 2026

The ATO has updated formula rates and thresholds relevant to tax deductions and instalment calculations: from 1 July 2026 the cents-per-kilometre rate for motor vehicle expense deductions is set at **91 cents per kilometre** for the 2026-27 income year. Additionally, the GDP adjustment factor for determining quarterly GST and PAYG instalments has risen to **5%**, relevant from 1 July 2026. These changes directly impact taxpayers and businesses calculating travel deductions and PAYG instalment obligations.

Editorial impact label: Medium

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Jul 1, 2026

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Saudi Arabia Extends Initiative to Cancel Fines and Financial Penalties for Taxpayers

ZATCA has extended, from 1 July to 31 December 2026, an initiative granting full relief from late-registration, late filing, late payment, and other penalties under all tax systems (except for evasion penalties, Article-45 VAT penalties, and penalties for returns due after 30 June 2026). To benefit, taxpayers must be registered, file all due returns, and pay the outstanding principal (or apply for installments) during the initiative period.

Editorial impact label: Medium

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Jul 1, 2026

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Update to VAT and Excise Measures – 3 June 2026

An HMRC announcement that specific VAT and excise commodity-code measures (codes 2924297017, 2934999025, 3811210010 in Chapters 29 & 38) will **end at 23:59 on 30 June 2026**. Declarations pre-lodged must be amended before goods arrive to avoid rejection by CDS. This affects importers and traders dealing with these codes immediately.

Editorial impact label: Medium

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Jun 30, 2026

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Instrução Normativa RFB nº 2.333, de 30 junho de 2026

Updates the rules for the Cadastro Nacional da Pessoa Jurídica (CNPJ), defining specific criteria for suspension of registrations due to cadastral inconsistencies. It clarifies how irregular data—such as incoherent activity economic codes, invalid addresses, misused fantasy/business/registered names, representative or QSA irregularities—can lead to registration suspension. Legal entities must ensure consistency across all declared registration data.

Editorial impact label: Medium

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Jun 30, 2026

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Proposed

Extension of steel and aluminum tariff measures to support workers and businesses

Canada will extend for one year its steel and aluminum tariff-rate quotas for imports from non-CUSMA partners and existing horizontal tariff relief for eligible steel and aluminum products from the US; this provides fiscal support for businesses relying on these materials, subject to approval by the Governor in Council.

Editorial impact label: Medium

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Jun 30, 2026

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Receita Federal atualiza regras cadastrais do CNPJ (IN RFB nº 2.333/2026)

Introduz critérios detalhados para inconsistência cadastral e possibilidade de suspensão do CNPJ por irregularidades como CPF/CNPJ de sócios inválidos, discrepâncias entre natureza jurídica, finalidade, atividade econômica, uso de endereço ou telefone sem autorização, entre outros; aplica-se a todas pessoas jurídicas.

Editorial impact label: Medium

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Jun 30, 2026

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Receita Federal atualiza regras cadastrais do CNPJ — Instrução Normativa RFB nº 2.333/2026

Publicação da Instrução Normativa RFB nº 2.333, de 30 de junho de 2026, que atualiza as regras do Cadastro Nacional da Pessoa Jurídica (CNPJ), detalhando hipóteses de inconsistência cadastral, critérios de suspensão de inscrições no cadastro, e requisitos de coerência das informações prestadas (QSA, representantes, nome fantasia, endereço, atividade econômica).

Editorial impact label: Medium

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Jun 30, 2026

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Pakistan

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Pakistan: Finance Act 2026 – Sales Tax Reliefs & Exemptions

In Budget 2026-27, Pakistan’s Finance Act introduces a number of **sales tax relief measures**, including exemption for magazines, extension of import CKD exemptions for electric vehicles until June 30 2027, removal of sales tax on family planning devices, exemption of tax on strategic import goods and capital goods revamp for refineries. Also includes revenue measures like expanding the Third Schedule, withholding on unregistered buyers, etc.

Editorial impact label: Medium

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Jun 30, 2026

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Receita Federal atualiza regras cadastrais do CNPJ

Instruction Normativa RFB nº 2.333, of 30 June 2026 revises rules for the Cadastro Nacional da Pessoa Jurídica (CNPJ), tightening criteria around data consistency. Triggers for suspension of CNPJ include inconsistencies in QSA (Quadro de Sócios e Administradores), improper use of trade names, addresses or contacts not aligning with registered entities, use of addresses/phones of third parties without authorization, and mismatches between declared economic activity and juridical nature. Strong requirement to align documentation and registered data to avoid suspension.

Editorial impact label: Medium

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Jun 30, 2026

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Overseas Financial Account & Trusts Reporting Requirement for Residents

For 2025 holdings, residents and domestic corporations with overseas financial accounts exceeding KRW 500 million in combined month-end balances must report those accounts by **June 30, 2026**. Also, overseas trust/settlement entities with control or benefit by the resident must be disclosed annually. Failure to report triggers penalties, disclosure, and possible criminal sanctions. ([nts.go.kr](https://www.nts.go.kr/nts/na/ntt/selectNttInfo.do?nttSn=1352026&utm_source=openai))

Editorial impact label: Medium

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Jun 30, 2026

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