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Deb5's avatar
Deb5
Experienced User
5 years ago
Solved

Novated lease and superannuation

Good morning   Hoping for some help from you all.    We have a employee who has a novated lease which has been set up almost perfectly.  However I did notice that the super is still calculating a...
  • Tracey_H's avatar
    Tracey_H
    5 years ago

    Hi Deb5 

     

    Thanks for your post. You would need to set up a new Superannuation Guarantee payroll category and enter an amount in the Exclusions field. This help article, Set up salary sacrifice superannuation, explains how to stop SGC calculating on a sacrificed amount. Once you've set up the new SGC category and linked that employee don't forget to unlink them from the 'normal' SGC category.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Tracey_H's avatar
Tracey_H
Former Staff

Hi Deb5 

 

Thanks for your post. You would need to set up a new Superannuation Guarantee payroll category and enter an amount in the Exclusions field. This help article, Set up salary sacrifice superannuation, explains how to stop SGC calculating on a sacrificed amount. Once you've set up the new SGC category and linked that employee don't forget to unlink them from the 'normal' SGC category.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

IanChait's avatar
IanChait
Ultimate Partner
5 years ago

Hi Deb5 

 

You may find with the changes to the Superannuation legislation, you will need to pay Super on the Gross amount. Check with your Novated Lease provider.

  • IanChait's avatar
    IanChait
    Ultimate Partner
    5 years ago

    Hi Deb5 Tracey_H 

     

    Further to my previous reply, Superannuation at 9.5% is calculated on the Gross Wages before the Novated Lease deductions as you are currently doing.