Super on Retired Employee
Hi
Thi is not really a Reckon question but I would appreacite some mentoring in this space.
We paid super to the Super Clearing house after an employee has retired and the funds have now been returned. I have deposited back to the Liability. How do I handle these returned funds ? Do I pay the Super direct to the employee ?
Comments
-
Hi Kathy
No - they still have to be paid into an eligible fund. It's likely the employee has maybe closed this account & that's why the funds were returned to you.
Either contact the employee to obtain alternate eligible Super fund details or pay it into your default fund, setting this employee up with a new member account if required (silly I know, but that's the rules 🙄)
Shaz Hughes Dip(Fin) ACQ NSW, MICB
*** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***
* Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *
Accounted 4 Bookkeeping Services
Ballajura, WA
(NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
1