Superannuation

Rebecca Binney

Hi, I have processed my first payment in the new basic payroll app. I make fortnightly payments but pay super quarterly. The app created an amount for super for the fortnight but this won't be paid yet. Can I adjust this amount to add it in when I make the payment as I was able to in the old app. Your assistance would be appreciated. Thank you

Rav

Hi @Rebecca Binney

Super is calculated and included in the payrun when earnings reach the current $450 threshold. While the rate of super You won't be able to separate this out from the payrun to pay at a later stage.

Rebecca Binney

This is not very helpful as I am not going to make super payments fortnightly. By law it only needs to be paid every 3 months? The old app allowed you to adjust the super amount when paid. Is there a way around this? Will a change be made to the app to facilitate this? Thanks

swakhlu01 .

@Rebecca Binney Making Payruns in Payroll Basic app does not necessarily mean it is generating payments to employee. It is only reporting payments to ATO. The situation would be different if payslips were being generated for employees. STP app was also creating reports to ATO and did not generate payslips.

So perhaps I would assume there is no issue if fortnightly Payruns have the compulsory super of 10% included as long as the employer by law deposits the super amount quarterly into the employee super fund. The small / micro employer is allowed to accrue the super on behalf of employee until then.

Hope this helps. You could check with your Tax accounant as well.