Superannuation Increase

Pia
Pia Member Posts: 75 Reckoner Reckoner
in Reckon Payroll

Do you pay the new super increase on wages processed for the last week of June paid on 2nd July? Tia

Comments

  • Rav
    Rav Administrator, Reckon Staff Posts: 16,612 Reckon Community Manager Community Manager

    Hi @Pia

    I'm not an accountant so my guidance on this will be limited but what I will say is the pay date is the determining factor of where a pay run belongs. So if the pay date for this particular pay run is 2 July, then it'll fall in the 2024/25 financial year and any super will be calculated at 11.5%.

    Please note: Reckon Payroll will receive the update for 2024/25 tax table and new super rate later today.
    If you haven't already done so, I'd recommend clicking the Follow button on the Reckon Payroll Announcements page HERE so you receive an email notification as soon as a new announcement is published 🙂

    Merry Christmas & Happy New Year everyone! 🎅🎆

    I'm on leave from 23 December and back on deck again January 6th.

    If you're working through the holiday period, we've got support available and you'll find our holiday hoursHERE.

Categories