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Louise678's avatar
Louise678
Experienced Cover User
7 months ago
Solved

Salary Sacrifice Superannuation

I have a casual employee who wants to salary sacrifice 100% of each weekly pay. I will set this up per the Setting up salary sacrifice superannuation info page. We use the myob super portal for our monthly super contributions. We use STP 2 for reporting.  My question is will I need to do a weekly transfer through the super portal for this employee? Or will each weeks contribution be accumulated for this employee in the super portal in addition to his Super Guarantee? Meaning I could still do monthly super payments . I have not had a salary sacrifice employee before and I am not sure how the actual payments work. Any help/explanation would be appreciated. I am also wondering about allocating these SS payments . Will they need to be allocated separately from the normal SG payments. ????

  • Shella_A's avatar
    Shella_A
    7 months ago

    Hi Louise678,

     

    Thank you for your post. 

     

    If an employee wants to sacrifice some of their pay to go to their super fund, this will be a before tax deduction. If they want money deducted from their net (after tax) pay for super, see Additional superannuation contributions for more information. You may also have a look at this help article setting up salary sacrifice superannuation that has detailed information and instructions to assist with this. 

     

    If you need further help, don't hesitate to start a new post and we'll be happy to assist. 

     

     

    Otherwise, if my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information. 

     

     

     

    Cheers,

    Shella

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  • Thill's avatar
    Thill
    Trusted Cover User
    7 months ago

     Our experience with Sal.Sac. (SS) is that MYOB aggregrates or combines SS and SG super payments ready for processing of super payments whenever you elect to do that. In our case, using MYOB Business software, we process super payments by selecting "Super payments" from the Payroll menu. At this point, logging in is required with the password being the same as the password for logging into MYOB in the first place (this 'replaces' the 'portal' logging in process previously used). You then Create super payments and should see all the super payments awaiting payment. All the super payments you want to process are then selected (usually you select them all), and then simply click the 'Authorise' (or 'Authorise now') button. MYOB should respond that the super payment(s) was successfully processed.

     There was some set-up required, and you should be able to find MYOB instructions for this. Just make sure you are designated as an Authoriser, not just a Creator of super payments! .. hope this helps, good luck!

  • Shella_A's avatar
    Shella_A
    MYOB Moderator
    7 months ago

    Hi Louise678,

     

    Thank you for your post. 

     

    If an employee wants to sacrifice some of their pay to go to their super fund, this will be a before tax deduction. If they want money deducted from their net (after tax) pay for super, see Additional superannuation contributions for more information. You may also have a look at this help article setting up salary sacrifice superannuation that has detailed information and instructions to assist with this. 

     

    If you need further help, don't hesitate to start a new post and we'll be happy to assist. 

     

     

    Otherwise, if my response has answered your enquiry, please click "Accept as Solution" to assist other users find this information. 

     

     

     

    Cheers,

    Shella