Superannuation

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Superannuation

Hi All

Another question 

I have a new employee who may or may not earn enough in a calendar month to be entitled to Superannuation.

My question is will the software add the 9.5% for all weeks in the month to the final pay date for the calendar month, or do I need to go back and delete the earlier pays and re enter with the super paymnet manually added.

 

thanks Kerry

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MYOB Moderator
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MYOB Moderator
New Zealand
MYOB Moderator

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Re: Superannuation

Hi @Kezster63 

 

My response on your previous post (Superannuation Calculationsshould clear that up for you. However, in short, once the eligible wages of the employee reached the superannuation threshold of $450 for the calendar month that particular pay will calculate superannuation of 9.5%. This calculation would be back-calculated for the full calendar month thus no need to delete pays it will just have a higher value on that pay that reaches the threshold.

Kind regards,
Steven

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