Reportable Superannuation Payments

Marc H

One of our employees is on a salary package which includes non-reportable fringe benefits. In addition, under his enterprise agreement, we contribute 10.5%, not 9.5%, Superannuation Guarantee. I have created an additional Superannuation item in his pay to calculate Super Guarantee on the non-reportable fringe benefits portion of his package and I have set the SG rate on the cash portion of his package to 10.5%.

In the INB Payment Summary for this employee, both the Super on the non-reportable fringe benefits and the additional 1% on the cash portion are classified by Reckon One as "Reportable employer superannuation contributions".

However, my understanding of tax regulations is that these items should not be considered as Reportable.

Is there some way this can be set up so that these Super payments are not classified as reportable contributions?

TIA.

Joseph Li

Any employer super contribution above the statuary 9.5% is reportable on the payment summary, I think.

hotkiwi

You may want to contact the ATO. I have a similar situation and always reported the extra super over and above the 9.5% as reportable. This has no consequences for you as employer or for the employee, apart from when they are over 65 and it is counted as extra income in the asset test for the pension.

Kwikbooks (Professional Partner)

Hi Marc

For the extra super it is reportable on the payment summaries, you need to leave the normal SCG on his payslip at 9.5% then another super for "employer Additional" EA to calculate the other 1.5% these will appear separate on the payslip and the EA you need to include on payment summary.

The non-reportable fringe benefit needs it's own payroll item  "rent,car,???" but you don't need to chose include on payment summary.