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HoneySandra's avatar
HoneySandra
Experienced Cover User
12 months ago

Super salary sacrifice - getting it right

I have just started to take out a fixed amount of Super salaray sacrifice from an employee's pay.   I have read on the ATO's website that the amount taken out for Salary sacrifice DOES NOT attract ...
  • Princess_R's avatar
    Princess_R
    12 months ago

    Hi HoneySandra,

     

    Thank you for your post.

     

    If you've set up salary sacrifice payments for employees who want to make additional contributions of their pay to go to their superfund, these payments are deducted from the employee's gross pay. They could be either a fixed amount or a fixed percentage of the employee's pay. Kindly refer to this Help article: Set up salary sacrifice superannuation, which has detailed information to assist with this. You cannot exempt the super guarantee from the salary sacrifice since the super guarantee is the compulsory contribution you were required to pay.

     

    Please let me know if you require further assistance with this. I'm happy to help.

     

    Cheers,

    Princess

Princess_R's avatar
Princess_R
MYOB Moderator
12 months ago

Hi HoneySandra,

 

Thank you for your post.

 

If you've set up salary sacrifice payments for employees who want to make additional contributions of their pay to go to their superfund, these payments are deducted from the employee's gross pay. They could be either a fixed amount or a fixed percentage of the employee's pay. Kindly refer to this Help article: Set up salary sacrifice superannuation, which has detailed information to assist with this. You cannot exempt the super guarantee from the salary sacrifice since the super guarantee is the compulsory contribution you were required to pay.

 

Please let me know if you require further assistance with this. I'm happy to help.

 

Cheers,

Princess

  • HoneySandra's avatar
    HoneySandra
    Experienced Cover User
    12 months ago

    Hi Princess, yes you are correct and I had already set it up correctly in MYOB as it was already mostly all there.

    I was reading something on the ATO website that made it a bit confusing about super guarantee contributions, that's why I queried.

    • Princess_R's avatar
      Princess_R
      MYOB Moderator
      12 months ago

      Hi HoneySandra,

       

      Thank you for your response. I understand that the ATO website can indeed contain a lot of information, which might lead to uncertainties. But if everything in your payroll categories is set up correctly, then you don't need to worry. If you've got any specific questions or need further clarification on any aspect related to superannuation contributions or any other matter, please don't hesitate to ask. I'm here to help.

       

      Cheers,

      Princess

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