Reportable employer super contributions

From 1 July 2009 payment summaries now include a label to show reportable employer super contributions.

Reportable employer super contributions are super contributions made under a salary sacrifice arrangement or extra super contributions paid to a super fund that have been influenced by the employee.

Super contributions that are compulsory contributions or are not influenced by your employee will not be reportable employer super contributions.

Anyone with a reportable employer super contribution amount must now be issued with a payment summary even if they have no salary or wage amounts.

For more information go to Reportable employer super contributions - See more at: http://www.azuregroup.com.au/resources/blog/superannuation/update-reportable-employer-super-contributions#sthash.buWKD8UT.dpuf


 


This article is intended to provide general information only, and is not to be regarded as legal or financial advice. The content is based on current facts, circumstances, and assumptions, and its accuracy may be affected by changes in laws, regulations, or market conditions.  Accordingly, neither Azure Group Pty Ltd nor any member or employee of Azure Group or associated entities, undertakes responsibility arising in any way whatsoever to any persons in respect of this alert or any error or omissions herein, arising through negligence or otherwise howsoever caused. Readers are advised to consult with qualified professionals for advice specific to their situation before taking any action.

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Azure Group is the leading Chartered Accounting, Business Advisory and Strategic Advisory firm supporting the growth & success of fast growing entrepreneurial businesses.

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