Forum Discussion

HoneySandra's avatar
HoneySandra
Experienced Cover User
2 years ago

Super salary sacrifice - getting it right

I have just started to take out a fixed amount of Super salaray sacrifice from an employee's pay.   I have read on the ATO's website that the amount taken out for Salary sacrifice DOES NOT attract ...
  • Princess_R's avatar
    Princess_R
    2 years ago

    Hi HoneySandra,

     

    Thank you for your post.

     

    If you've set up salary sacrifice payments for employees who want to make additional contributions of their pay to go to their superfund, these payments are deducted from the employee's gross pay. They could be either a fixed amount or a fixed percentage of the employee's pay. Kindly refer to this Help article: Set up salary sacrifice superannuation, which has detailed information to assist with this. You cannot exempt the super guarantee from the salary sacrifice since the super guarantee is the compulsory contribution you were required to pay.

     

    Please let me know if you require further assistance with this. I'm happy to help.

     

    Cheers,

    Princess

HoneySandra's avatar
HoneySandra
Experienced Cover User

Hi Princess, yes you are correct and I had already set it up correctly in MYOB as it was already mostly all there.

I was reading something on the ATO website that made it a bit confusing about super guarantee contributions, that's why I queried.

Princess_R's avatar
Princess_R
MYOB Moderator
2 years ago

Hi HoneySandra,

 

Thank you for your response. I understand that the ATO website can indeed contain a lot of information, which might lead to uncertainties. But if everything in your payroll categories is set up correctly, then you don't need to worry. If you've got any specific questions or need further clarification on any aspect related to superannuation contributions or any other matter, please don't hesitate to ask. I'm here to help.

 

Cheers,

Princess

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.