Forum Discussion

JockJ's avatar
JockJ
Experienced Cover User
5 years ago

Maximum Super Contribution Base

We have an employee who is paid in excess of the $55,270 salary limit per quarter.

Does MYOB warn that this is the case when processing Super or how can I set this so as not to pay the excess Super

  • Steven_M's avatar
    Steven_M
    5 years ago

    Hi JockJ 

     

    AccountRight will calculate superannuation based on the calculation basis set on the superannuation category. This can be seen via Payroll>>Payroll Categories>>Superannuation>>Selecting the desired category. 

    As you will notice on the Superannuation Information window, there is the option for Limit. You can use this option to limit the calculation basis to only calculate up to a certain dollar value or percentage. For example, you can select the limit to be $xx per quarter and AccountRight will calculate the superannuation up to the amount for the quarter.

     

    Do let us know how you get on and if you require further assistance.

  • Steven_M's avatar
    Steven_M
    Former Staff
    5 years ago

    Hi JockJ 

     

    AccountRight will calculate superannuation based on the calculation basis set on the superannuation category. This can be seen via Payroll>>Payroll Categories>>Superannuation>>Selecting the desired category. 

    As you will notice on the Superannuation Information window, there is the option for Limit. You can use this option to limit the calculation basis to only calculate up to a certain dollar value or percentage. For example, you can select the limit to be $xx per quarter and AccountRight will calculate the superannuation up to the amount for the quarter.

     

    Do let us know how you get on and if you require further assistance.

    • Deb5's avatar
      Deb5
      Experienced User
      5 years ago

      Hi Steven

       

      Does MYOB have the ability to redirect the excess into wages?

       

      Thanks!

      • Steven_M's avatar
        Steven_M
        Former Staff
        5 years ago

        Hi Deb5 

         

        The limit of a calculation basis will stop the calculation of superannuation. The excess of that superannuation, above the limit, is discarded by the software and cannot be filtered into wages. If that is required, you would be looking at a manual process of calculating the value above the superannuation limit and placing that value against a wage category so that the employee does receive that amount as a wage. 

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