# Div 296 changes, July super payments & worst retirement advice ever heard

Page: https://stenobird.com/podcast/australian-retirement-podcast-6957560/div-296-changes-july-super-payments-worst-retirement-advice-ever-heard
Text version: https://stenobird.com/podcast/australian-retirement-podcast-6957560/div-296-changes-july-super-payments-worst-retirement-advice-ever-heard.md
Podcast: [Australian Retirement Podcast](https://stenobird.com/podcast/australian-retirement-podcast-6957560)
Published: 2026-04-30T05:00:00+00:00
Episode link: https://traffic.megaphone.fm/RRKKR4353207440.mp3?updated=1777344537
Audio file: https://traffic.megaphone.fm/RRKKR4353207440.mp3?updated=1777344537
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JSON: https://stenobird.com/v1/public/podcasts/australian-retirement-podcast-6957560/episodes/div-296-changes-july-super-payments-worst-retirement-advice-ever-heard
Duration seconds: 2611

## Resource

In this Australian Retirement Podcast episode, your hosts Drew Meredith from Wattle Partners and James O'Reilly from Northeast Wealth open with camping vs. vanning debate, optimal camping setups, and serious camping envy. Then the worst retirement advice they've ever heard clients repeat: "Put 100% of my super in crypto in the leadup to retirement," "I'll just invest in income stocks," and "Super is a scam, I'll take it all out and put it in a term deposit." The Boomer Briefing unpacks Division 296 and the CGT reset, then dives into the massive 1 July 2026 changes forcing employers to pay super at the same time as salary payments. The ATO estimates $3-4 billion in unpaid super each year - but industry analysis suggests it's closer to $5 billion, representing 3-5% of total super guarantee liabilities. Around 40% is attributed to insolvent employers, another 40% to the shadow economy (cash-based industries, contractor misclassification, underreported wages). Higher-risk workers - casuals, migrants, younger and lower-income workers, and contractors - are less likely to check super or report underpayment. Late payments attract super guarantee charges (interest and admin fees) with no tax deductibility, so employers caught with arrears may be better off resolving this in FY26. Drew and James answer questions from HardlyBroke about TermPlus capital protection and time-is-ticking on accessing super over 60 when self-employed with an ABN - can you return to work invoicing the same clients? If you like this Australian Retirement Podcast episode, don't forget to subscribe for weekly shows on Apple, Spotify, YouTube or wherever you get your podcasts. Topics covered today: - Worst retirement advice ever - 100% crypto, income stocks only, super is a scam - Division 296 and CGT rese…

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## Transcript

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