How to pay Carry forward concessional Super contribution in Account Right system

Question

Hello Team,

We are going to pay employee SSR Before deduction  for the unused concession contribution (Last 5 yrs) .  The total amount is from employee Mygov  ATO record and we want to  lump sum for this employee. can you please advise how can set it up in MYOB account Right system ? how to process this pay ?  will it cause employee to pay extra tax after this payment ? Thanks

Shella_A · Answer

Hi @Enclosed12

I see that you're looking to make a lump sum payment for an employee's unused concession contribution from their Mygov ATO record. In MYOB AccountRight, you can set up a new pay item for this specific purpose. See this helpful article about creating lump sums for the process guide. As for the tax implications, it's important to note that any changes in an employee's income can potentially affect their tax situation. I recommended seeking assistance from your tax professional, accountant, or ATO for personalized advice. Feel free to reach out if you need further help!

Kind regards,

Shella