As our contractors have an abn and work mostly for us - we are obliged to calculate superannuation on their "ordinary hours". Currently I calculate super for each day monday to Friday that they have worked being it 8 hours or less. ie is they work 11 hours then we calculate super at 8 hours.
I have to manually add this up for each month in a spreadsheet and process it as an expense in Myob.
would be good to be able to get MYOB to generate it automatically like it does for the end of year report, when we have the "flag" set.
If they don't have a PTY LTD company they are still considered to be an employee and need to have super paid, but they opt to work under their own abn.
Assuming that you are already using the payroll function to enter these hours there is a fairly simple way to limit the number of hours which contribute to super. Create a new Wages category called Additional Hours, exempt it from Superannuation and tick this for each subbie. As you run the pay add any 'overtime' to Additional Hours . The effect will be that Super will only calculate on the Base hourly figure
Related Content
- 4 months ago
- 4 months ago
- 9 months ago
- 7 months ago