For the 2009–10 income year you are required to include employer superannuation contributions on each applicable PAYG payment summary.
The amount of reportable super contributions will affect the income tests for some tax offsets, deductions, concessions, the Medicare levy surcharge, and certain government benefits and obligations. It is therefore important that you record the correct amount on your employee payment summaries.
Reportable employer super contributions are those contributions an employer makes for an employee where;
·The employee influenced the rate or amount the employer contributed for them
·The contributions are additional to the compulsory contributions an employer must make under super guarantee law (the 9% SGC), an industrial agreement or any other law.
If you have any queries regarding the above please contact your Stanley & Williamson client manager.
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