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Share your ideas for improving MYOB Essentials Accounting. Vote on ideas and discuss them with the MYOB product development team.

MYOB Essentials

Super Payments on amounts below $450

GBAStaff
Cover User

2Posts

5Kudos

0Solutions

2 Posts
Cover User
Australia

For those that want to pay their staff super regardless of the monthly earning or who pay above the $450 in the month but not the first week of pay there should be an option to calculate the super on all payments not only on payments of $450 or more in a calendar month.

Current Status: Open
Last Changed: December 2014

Thanks for your suggestion @GBAStaff  Anyone else who would like to the ability to accrue super regardless of whether or not the employee earns over the $450 threshold, please cast your vote here.

Please note, that if an employee earns less than the $450 threshold then they aren't technically eligible for the superannuation guarantee. The ATO requires you to report certain, non-compulsory amounts on the employee's payment summary. I strongly recommend that you speak to your accountant or the ATO to clarify reporting requirements, if you choose to accrue super for employees who earn under the threshold.

Also, please note that Essentials does correctly accrue superannuation for employee's who earn less than $450 in their first pay, but end up receiving more than $450 by the end of the month. Essentials exempts all pays from super until the $450 threshold is reached for the month. On the pay where the $450 threshold a superannuation amount equal to the amount for this pay, and all previous pays for the month is accrued (even if the single pay itself is less than $450).

7 Comments
Ultimate Partner ronatbas
4,518 Posts
Ultimate Partner

In AR this option is already there - you just need to get rid of the $450 in the threshold screen of the Super Information screen. I'm not certain but it is most likely in Essentials as well

MYOB Moderator Liam_M
3,488 Posts
MYOB Moderator

Thanks for your suggestion @GBAStaff  Anyone else who would like to the ability to accrue super regardless of whether or not the employee earns over the $450 threshold, please cast your vote here.

Please note, that if an employee earns less than the $450 threshold then they aren't technically eligible for the superannuation guarantee. The ATO requires you to report certain, non-compulsory amounts on the employee's payment summary. I strongly recommend that you speak to your accountant or the ATO to clarify reporting requirements, if you choose to accrue super for employees who earn under the threshold.

Also, please note that Essentials does correctly accrue superannuation for employee's who earn less than $450 in their first pay, but end up receiving more than $450 by the end of the month. Essentials exempts all pays from super until the $450 threshold is reached for the month. On the pay where the $450 threshold a superannuation amount equal to the amount for this pay, and all previous pays for the month is accrued (even if the single pay itself is less than $450).

GBAStaff
2 Posts
Cover User

We are an accountant and our clients would like to see this option included. We are aware that it automatically increases the superannuation on the payslip once the $450 threshold is reached however they would like the option to turn this off and have it accrue regardless.

MYOB Moderator Steven_M
29,269 Posts
MYOB Moderator

HI @GBAStaff 

Thanks for your additional comments. I have shared them with the team.

I would encourage clients that you would like to see a option for the threshold to be turned off and on if required to vote for this idea using the + vote button and comment if required,

Experienced User seachange
33 Posts
Experienced User

I don't think this is a smart idea. Super legislation is very strict and if you overpay super, there is precedence of heavy fines for businesses that do so.

It's great that essesntials can handle the amounts above and below the $450 in the month.

MYOB Moderator Steven_M
29,269 Posts
MYOB Moderator

Hi @seachange 

Thank you for your comments and feedback. I have shared your thoughts with the team.

Dogzbreath
5 Posts
User

This is a common circumstance for people working as aged or disability support carers who often work for multiple employers. We pay super on every dollar earned and have to manually adjust this each pay period. A thought - why does our government insist that people earning less, be less entitled to super?