Forum Discussion

Deb5's avatar
Deb5
Experienced User
5 years ago

Novated lease and superannuation

Good morning   Hoping for some help from you all.    We have a employee who has a novated lease which has been set up almost perfectly.  However I did notice that the super is still calculating a...
  • Tracey_H's avatar
    Tracey_H
    5 years ago

    Hi Deb5 

     

    Thanks for your post. You would need to set up a new Superannuation Guarantee payroll category and enter an amount in the Exclusions field. This help article, Set up salary sacrifice superannuation, explains how to stop SGC calculating on a sacrificed amount. Once you've set up the new SGC category and linked that employee don't forget to unlink them from the 'normal' SGC category.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Tracey_H's avatar
Tracey_H
Former Staff
5 years ago

Hi Deb5 

 

Thanks for your post. You would need to set up a new Superannuation Guarantee payroll category and enter an amount in the Exclusions field. This help article, Set up salary sacrifice superannuation, explains how to stop SGC calculating on a sacrificed amount. Once you've set up the new SGC category and linked that employee don't forget to unlink them from the 'normal' SGC category.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

  • IanChait's avatar
    IanChait
    Ultimate Cover User
    5 years ago

    Hi Deb5 

     

    You may find with the changes to the Superannuation legislation, you will need to pay Super on the Gross amount. Check with your Novated Lease provider.

    • IanChait's avatar
      IanChait
      Ultimate Cover User
      5 years ago

      Hi Deb5 Tracey_H 

       

      Further to my previous reply, Superannuation at 9.5% is calculated on the Gross Wages before the Novated Lease deductions as you are currently doing.

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.