STP2 Superannuation reporting for contractor
Hi,
The company I work for is required to pay superannuation for a sole trader contractor.
From what I have read on the ATO website this is only needed to be reportedto STP2 if the accounting software can support it.
Does anyone currently report a contractor superannuation payment to MYOB through STP2? If so, any hints or tips?
Thank you.
Hi LeeshO,
Apologies for the delay in response.
From what I understand, you can manage superannuation payments for a contractor by setting up an employee contact for them. Once you've created the employee contact that corresponds to the contractor, you can adjust the employment basis to labor hire.
Next, make sure all figures in the 'Standard Pay' window are set to zero. When you're processing Payroll, use the Bonus/Commission frequency to input a Void Pay cheque for the contractor. You can then manually enter the amount against the Superannuation Guarantee. If you need further information about processing superannuation, I recommend reading the article 'Superannuation'.
I hope this helps. Please reach out if you need further assistance.
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Thanks,
Genreve
