Forum Discussion

SuzanneDenny's avatar
SuzanneDenny
Contributing User
18 days ago
Solved

Pre-Tax Novated Lease/SG Superannuation

Hi, I understand that SGC is not payable on Salary Sacrifice Pre-Tax portions of Novated Leases or Salary Sacrifice items other than Superannuation.  When setting up these accounts in MYOB I can on...
  • Shella_A's avatar
    Shella_A
    17 days ago

    Hi SuzanneDenny,

     

    We appreciate your suggestion to have a deduction option that reduces the Gross amount for the calculation of SGC on Pre-Tax salary sacrificed amounts. I recommend posting this to our MYOB AccountRight Ideas Exchange board for future updates consideration. In the meantime, making manual adjustments is the best approach.

     

     

    Cheers,

    Shella

SuzanneDenny's avatar
SuzanneDenny
Contributing User
18 days ago

Hi Shella

Thank you for responding. 

I don't need advice on whether Super is payable on this type of Salary Sacrifice, I want to know where/how to set this up in MYOB Payroll.

The current options don't allow for SGC to be reduced for these amounts - or am I missing something?

I want MYOB specific advice please.

Thank you

Suzanne

Genreve_S's avatar
Genreve_S
MYOB Moderator
17 days ago

Hi SuzanneDenny, 

 

The software cannot reduce the Superannuation Guarantee Charge (SGC) as it is based on the gross income. This setup ensures that the super guarantee contributions the employer must make are not affected. You can read more about this in this link.

 

 

Regards,
Genreve

  • SuzanneDenny's avatar
    SuzanneDenny
    Contributing User
    17 days ago

    Hi Genreve

    Thank you for confirming that MYOB currently does not have a deduction option to use which reduces Gross amount for calculation of SGC on Pre-Tax salary sacrificed amounts not to Super.

    Maybe something MYOB could consider implementing?

    I will make manual adjustments.

    Regards

    Suzanne

    • Shella_A's avatar
      Shella_A
      MYOB Moderator
      17 days ago

      Hi SuzanneDenny,

       

      We appreciate your suggestion to have a deduction option that reduces the Gross amount for the calculation of SGC on Pre-Tax salary sacrificed amounts. I recommend posting this to our MYOB AccountRight Ideas Exchange board for future updates consideration. In the meantime, making manual adjustments is the best approach.

       

       

      Cheers,

      Shella

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