Annual Leave Loading (STP Other Leave) is not attached to Superannuation and should be

Question

I have auditors here for our interim audit and they have just picked up that annual leave loading is not being picked up as OTE for Superannuation purposes. I have tested the Overtime category for annual leave loading and that is being picked up for OTE when it shouldn't be. THIS IS URGENT AND NEEDS ATTENTION!!!!

SharonMaguire · Answer

Hi Gavin

Thank you

gavin12345 · Answer

Hi @SharonMaguire

It seems, whoever set up the payroll categories in MYOB did not set them up correctly. There are various Support Articles in the Support section that cover most of these with examples.

I suggest you review ALL payroll categories. Look at the Super Guarantee Payroll Category and click the Exempt button. Here you can specify which payroll categories should be excluded from the Super Guarantee calculation.

Individual Wage Payroll Categories also have an Exempt Button where they can be excluded from things like PAYG Withholding etc.

Once you have identified what changes are required to the setup, you should review prior super contributions made in case you need to adjust previously paid amounts. How to do this is best discussed with your bookkeeper and tax advisor.

Regards

Gavin