Super calculation?

[kuto]

Hi,

Can someone confirm that MYOB calculates and pays the 9.5% super payment on top of gross wages (and not inclusive of that figure).

eg. 55,000 inclusive of super would be 55,000 - 9.5% = 49,777 (in the annual salary field)

Cheers - Neil

[Tracey_H · Accepted solution]

Hi @kuto 

Thanks for your post.  The super calculation is 9.5% of gross payments (Ordinary Time Earnings). So if an employee's gross annual salary is $50,000, the annual super guarantee amount is $4750 (50,000 x 9.5% = 4750).

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.

[kuto]

Thanks Tracey.