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Setting up Salary Sacrifice after tax

Contributing Cover User JessS
21 Posts
Contributing Cover User

Setting up Salary Sacrifice after tax

I have an employee who is currently salary sacrificing a dollar value per hour before tax, but he now also wants to salary sacrifice a dollar value per hour after tax.

 

How will i go about setting this up in MYOB?  I'm lost and confused.

 

Thanks,

Jess

3 REPLIES
MYOB Moderator Tallie_M
3,853 Posts
MYOB Moderator
Australia

Re: Setting up Salary Sacrifice after tax

Hi there @JessS,

 

Is this a salary sacrifice for the purchase of an item? A salary sacrifice for super would typically always be pre-tax (see the ATO's page Salary sacrificing super).

 

If dealing with a salary sacrifice for an employee purchase, you can account for the pre- and post-tax component by setting up two separate payroll categories. In this case, one would be pre-tax and the other would be exempt from tax. You can exempt the category from tax by clicking on Exempt > PAYG Withholding.

 

Please see our help page Salary sacrifice (employee purchases) for further information and step-by-step instructions.

Warm Regards,

Tallie

MYOB Client Support
Contributing Cover User JessS
21 Posts
Contributing Cover User

Re: Setting up Salary Sacrifice after tax

Hi Tallie,

 

The salary sacrifice is for super.  Our employee has been told by his super fund that he can contribute sal sac to super before tax and after tax.  We already have sal sac set up for him before tax.  Is there a way you can set another one up after tax?

 

Ultimate Partner ronatbas
3,444 Posts
Ultimate Partner
Australia

Re: Setting up Salary Sacrifice after tax

@JessS

 

I can't imagine why you want to have a pre tax and a post tax super, but I am sure that this employee has spoken to his tax agent or financial advisor.

MYOB has an after tax super called Employee Additional. Make sure that you a request in writing then link him up to this.

Ron B
BAS Group
03 95588477

info@basgroup.com.au
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