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AXSHS's avatar
AXSHS
Partner
3 years ago

SUPERNNUATION PAYMENTS

Hi There,

 

I understand the processing of Super payments has been re enabled. Is there an estimate for when payments that were processed in MYOB on Monday will reach the employee's superfunds. Given that is is now 24 February with 2 of the next 3 days being a weekend - what are the chances of these being in the funds by 28th to be compliant?

Many thanks

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  • Melisa_D's avatar
    Melisa_D
    Former Staff
    3 years ago

    Hi AXSHS, 

     

    Generally speaking, we do aim for 5 day turnaround time for those payments, however, we are seeing what we can do to expedite the process for customers at this time.

    • AXSHS's avatar
      AXSHS
      Partner
      3 years ago

      Thanks Melissa - I processed these Monday morning (WA time) and none of them have been debited from the various banks/accounts.

      If these aren't taken until Monday, they won't be in the employees super funds and clients will be non compliant through not fault of their own.

      Has MYOB advised ATO/Super funds that this is not an employer error?

      Kind regards

      Chris

      • Melisa_D's avatar
        Melisa_D
        Former Staff
        3 years ago

        Hi AXSHS, 

         

        At this time we are not able to provide an exact timeframe on when funds will be debited and processed across to the funds. However we are closely communicating with the super clearing house to ensure that payments are processed as soon as possible and informing the required parties where appropriate.