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Wendy2018's avatar
Wendy2018
Trusted User
11 months ago
Solved

Super cap

Hi,

We have an employee who has almost reached the Super cap of $27500. He doesn't want me to pay the super on his final bonus as this will put him over the cap for 2022-2023 until July (which I would normally be doing anyway), but my concern is that this super on his final bonus will still be showing in this year for 2022-2023 and so he'll be over the cap.

If anyone has experienced this or knows what I could do please advise. Thanking in advance and hope this makes sense.

Cheers

Wendy

  • Genreve_S's avatar
    Genreve_S
    11 months ago

    Hi Wendy2018, 

     

    Thanks for reaching out. 

     

    If the payment for the final bonus would be recorded on July 1 it would be recorded for the next financial year. I would suggest that you speak with your financial advisor as we are not able to provide any financial advice. 

     

    If you have any other questions or concerns feel free to let us know. 

     

    Cheers, 

    Genreve

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  • Genreve_S's avatar
    Genreve_S
    MYOB Moderator
    11 months ago

    Hi Wendy2018, 

     

    Thanks for reaching out. 

     

    If the payment for the final bonus would be recorded on July 1 it would be recorded for the next financial year. I would suggest that you speak with your financial advisor as we are not able to provide any financial advice. 

     

    If you have any other questions or concerns feel free to let us know. 

     

    Cheers, 

    Genreve