Superannuation Co-contributions

NickW78
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Superannuation Co-contributions

Hi there,

I'm using MYOB Essentials, and struggling to find any way to set up a Super co-contribution (after tax).

It seems there's an option for a before tax contribution, but not after-tax.

Is that correct?  Is this only available through other products?

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Ultimate Partner DuncanS
1,783 Posts
Ultimate Partner
Australia
Ultimate Partner

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Re: Superannuation Co-contributions

@NickW78 

 

Personal Contributions after tax eg $1000 for Co-Contribution.are not deductible.

 

You would post to a Personal Account eg Drawings or have a separate Equity Ledger for Super Co-Contribution.

 

Tell the Tax Accountant as the Co-Contribution is to be recorded on the tax return.

 

Duncan.

 

Duncan Smith
Business Advice + Tax
Helping business owners build a better business since 1998
E expressgst@optusnet.com.au T 02 9904 3672 7 days

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