Superannuation Payment

MuhammadAhmed

Hi Team,

I have a question; we pay salary on fortnightly basis. which is start from 22/6/23 to 5/7/23. however, the super rate will be changed from 1ST July to 11%, so how do we make one single payment with 10.5% and 11%.

thanks for reply

Acctd4

Hi Muhammad!

The rate is related to payment date only, NOT pay period - Any payments made up to & including 30/06, the 10.5% rate of Super applies. For any payments made from 01/07 onwards, the applicable Super rate is 11%.

The 2023 update - being released later today - incorporates this & will use the correct rate based on the Paycheque date.

NOTE: It is recommended to complete current FY pays & the Finalise Year process in the current (2022) version FIRST, before upgrading as 2023 version. This is because the 2023 version is STP2-compatible only, which may or may not create submission errors with the ATO under the existing STP framework 😬

Kathyd

HI, How can we update the Super figure to 11% without having to go into each Payroll item?

Kris_Williams

Only the super payroll item needs to be updated and that should happen automatically when opening the 2023 version. But you can look at that payroll item to check

Acctd4

Hi @Kathyd

It will prompt for changing this automatically, after updating to 2023