I am trying to set up Super Salary Sacrifice for a one-off payment for 2 employees and am going around in circles. I understand that SG is payable on Salary sacrifice to super but it is not being calculated in the software. The tax payable amount has gone down, but super guarantee amount has not gone up. What am I doing wrong?
I have a client with the same problem and can’t see an option to include it. The only thing I can think of is to create a new Superannuation Guarantee Pay Item and have it calculate as 10.5% of salary sacrifice.
Thank you for your posts. May I extend a warm welcome to the MYOB Community Forum.
Kindly check this Help Article on Setting up salary sacrifice superannuation which has detailed steps and information on Salary Sacrifice. In setting up For STP Phase 2, the ATO reporting category Salary Sacrifice and RESC can be used for Salary Sacrifice (deduction) superannuation pay items.
If you're not sure what reporting category to assign, talk to your accounting advisor or the ATO.
Please feel free to post again. I'm happy to assist further.
If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.
What I am trying to do is pay a bonus that is entirely salary sacrificed to super. I understand that SG is payable on this.
For example, if I pay a bonus of $10,000, there would be 10.5% SG payable, which would be added to the SG payable on the usual pay, that is $1,050. If I pay a bonus of $20,000, the SG payable would be $2,100.
What I am trying to work out is:
1. Do I enter the $10,000 into the section marked bonus, or
2. Do I enter the $10,000 into the section marked Salary sacrifice to super?
I hope this makes sense to someone. I don't want to get it wrong and exceed maximum SG of $27,500.
If you wish to not Exempt Bonus from Salary Sacrifice, what you'll need to do is to go to your Salary Sacrifice pay item, scroll down to Exemptions and remove Bonus so it would be included.
There are two ways to pay an employee a bonus or commission:
include the payment on the employee's regular pay, or
process the payment in a separate pay (if this helps you or the employee keep track of these payments).
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I am trying to set up Super Salary Sacrifice for a one-off payment for 2 employees and am going around in circles. I understand that SG is payable on Salary sacrifice to super but it is not being calculated in the software. The tax payable amount has gone down, but super guarantee amount has not gone up. What am I doing wrong?
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I am trying to set up Super Salary Sacrifice for a one-off payment for 2 employees and am going around in circles. I understand that SG is payable on Salary sacrifice to super but it is not being calculated in the software. The tax payable amount has gone down, but super guarantee amount has not gone up. What am I doing wrong?
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I have a client with the same problem and can’t see an option to include it. The only thing I can think of is to create a new Superannuation Guarantee Pay Item and have it calculate as 10.5% of salary sacrifice.
I have a client with the same problem and can’t see an option to include it. The only thing I can think of is to create a new Superannuation Guarantee Pay Item and have it calculate as 10.5% of salary sacrifice.
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Thank you for your posts. May I extend a warm welcome to the MYOB Community Forum.
Kindly check this Help Article on Setting up salary sacrifice superannuation which has detailed steps and information on Salary Sacrifice. In setting up For STP Phase 2, the ATO reporting category Salary Sacrifice and RESC can be used for Salary Sacrifice (deduction) superannuation pay items.
If you're not sure what reporting category to assign, talk to your accounting advisor or the ATO.
Please feel free to post again. I'm happy to assist further.
If my response has answered your enquiry please click \"Accept as Solution\" to assist other users in finding this information.
Thank you for your posts. May I extend a warm welcome to the MYOB Community Forum.
Kindly check this Help Article on Setting up salary sacrifice superannuation which has detailed steps and information on Salary Sacrifice. In setting up For STP Phase 2, the ATO reporting category Salary Sacrifice and RESC can be used for Salary Sacrifice (deduction) superannuation pay items.
If you're not sure what reporting category to assign, talk to your accounting advisor or the ATO.
Please feel free to post again. I'm happy to assist further.
If my response has answered your enquiry please click \"Accept as Solution\" to assist other users in finding this information.
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Hello Sean,
I had already set up as per the instructions.
What I am trying to do is pay a bonus that is entirely salary sacrificed to super. I understand that SG is payable on this.
For example, if I pay a bonus of $10,000, there would be 10.5% SG payable, which would be added to the SG payable on the usual pay, that is $1,050. If I pay a bonus of $20,000, the SG payable would be $2,100.
What I am trying to work out is:
1. Do I enter the $10,000 into the section marked bonus, or
2. Do I enter the $10,000 into the section marked Salary sacrifice to super?
I hope this makes sense to someone. I don't want to get it wrong and exceed maximum SG of $27,500.
What I am trying to do is pay a bonus that is entirely salary sacrificed to super. I understand that SG is payable on this.
For example, if I pay a bonus of $10,000, there would be 10.5% SG payable, which would be added to the SG payable on the usual pay, that is $1,050. If I pay a bonus of $20,000, the SG payable would be $2,100.
What I am trying to work out is:
1. Do I enter the $10,000 into the section marked bonus, or
2. Do I enter the $10,000 into the section marked Salary sacrifice to super?
I hope this makes sense to someone. I don't want to get it wrong and exceed maximum SG of $27,500.
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If you wish to not Exempt Bonus from Salary Sacrifice, what you'll need to do is to go to your Salary Sacrifice pay item, scroll down to Exemptions and remove Bonus so it would be included.
\n
There are two ways to pay an employee a bonus or commission:
\n
\n
include the payment on the employee's regular pay, or
\n
process the payment in a separate pay (if this helps you or the employee keep track of these payments).
If you wish to not Exempt Bonus from Salary Sacrifice, what you'll need to do is to go to your Salary Sacrifice pay item, scroll down to Exemptions and remove Bonus so it would be included.
\n
There are two ways to pay an employee a bonus or commission:
\n
\n
include the payment on the employee's regular pay, or
\n
process the payment in a separate pay (if this helps you or the employee keep track of these payments).
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It's good to know that you were able to get assistance from your accountant. Please feel free to post again if you have further questions.
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My accountant provided a solution.
Enter the amount in the bonus section (the amount is exclusive of SG payable.)
Then enter the same amount in Salary Sacrifice - (a deduction), again this amount is exclusive of SG.
The total SG payable which also included the usual SG payble on normal earnings was correct.
