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Some superannuation contributions that are in addition to the compulsory superannuation guarantee rate may need to be reported to the ATO. This can include super payments made under a salary sacrifice arrangement or other additional superannuation contributions.
A super contribution may be reportable if:
- your employee influenced the rate or amount of super you contribute for them, or
- the contributions are additional to the compulsory contributions you must make under any of the following:
- super guarantee law
- an industrial agreement
- the trust deed or governing rules of a super fund
- a federal, state or territory law
What is not reportable?
Any super contributions that you contributed on your employee's behalf, if your employee did not influence the amount are considered not to be reportable contributions.
If your employee makes contributions from their after-tax (net) pay, these contributions are not reportable contributions.
How do I report these contributions to the ATO?
If a super contribution is reportable, when you set up the deduction pay item you can choose the ATO reporting category of Deduction - Reportable Employer Super Contributions (RESC).
Then when you report your payroll information to the ATO after each pay run, the deduction will be reported correctly.
Learn more about Setting up salary sacrifice superannuation.
Still not sure?
For clarification about what is or isn't reportable or how to handle it in MYOB Essentials, speak to your accounting advisor or ask the experts on the community forum.