Additional employer super (RESC)

lin
lin Member Posts: 4

I note that Rav (community administrator) has in the past stated that work was going on in the background to allow employer additional super to be entered into a pay run, has this been implemented and if so how do I get to report this in a pay run? I would like to get this done before the end of this financial year.

Comments

  • swakhlu01 .
    swakhlu01 . Member Posts: 362 Payroll App Expert Payroll App Expert

    @lin The easiest method to create a payrun in Payroll app that includes Additional employer super contribution is to choose an appropriate Super Guarantee rate higher than 10%. This higher rate needs to be computed based on the amount of additional super amount that is involved and will have to be a proportion of Total Earnings for that Payrun. Obviously one needs to make sure this amount for the FY will not exceed the overall concessional super contribution limit which includes the Super guarantee payments as well.

    Example - Total Earnings for payrun - $1000 , Super Guarantee (10%) - $100, Additional Super (say) -$200. Choose SG Rate as 0.30.

    The additional $200 gets reported as RESC (Reportable Employer Super Contribution) in the Employee's income statement in ATO MyGov.

  • lin
    lin Member Posts: 4

    Thanks swakhlu1, I’ll do that for the next financial year.