Limit field for Super Guarantee
John G
Reckon Staff Posts: 1,353 
Reckon Staff
Reckon Staff
Concessional super is capped - to $30,000pa in 2024. high income earnings (above $260,869pa) will hit this limit and will not qualify for super guarantee payments for the rest of the financial year. Any payments above this amount will incur additional taxation for the employee. A limit field to prevent payment above this level is desirable.
see ATO:
https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap
see ATO:
https://www.ato.gov.au/individuals-and-families/super-for-individuals-and-families/super/growing-and-keeping-track-of-your-super/caps-limits-and-tax-on-super-contributions/concessional-contributions-cap
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Comments
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Would like to see the ability to cap super guarantee for when high income earners have reached the ATO threshold for maximum SG payment amounts per quarter. ie. for Reckon One to cap the super automatically without the client needing to manually modify the super payment.
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@michelle.bridgford Thanks for raising this. I've merged it with another previous feature idea on the same topic ๐
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