You can calculate the exclusion amount by using this formula: **Minimum Superannuation required by the award=$XX.XX**
**$XX.XX divided by 0.095=$ Exclusion value**
Applying this formula to this example: Minimum Superannuation required by the award=$95.00 $95.00 divided by 0.095=$1000.00 This is the gross wages that are to be excluded each pay. 9.50% of $1000.00 is $95.00. You have already paid $95.00 superannuation as the flat rate. You do not have to pay it again so you exclude it from further required superannuation calculations. You will insert $1000.00 as the excluded wage amount because superannuation will have already been calculated as part of the flat rate category. |