M J Heywood & Co
Chartered Accountant
 

Address:
Suite 407
1 Princess St.
Kew, Vic. 3101

Phone:
613 9853 1234

Fax:
613 9853 1023

Email us

Liability limited by a scheme approved under Professional Standards Legislation

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Superannuation and Payslips

 

The last Federal Budget announced the requirement for employers to report the amount and date of superannuation contributions.

 


 

 

 The obligation for the 2013 financial year is for employers to report on employees payslips the amount of superannuation contributions and the date on which the employer expects to make them.
The employers pay office/software/recording system will need to consider how this can be efficiently recorded on employee payslips.  ...............

Employers have many methods of meeting superannuation contribution obligations, some pay weekly, some pay fortnightly, whilst the obligation is on most who pay at least quarterly.  

The current rule requires notification when the employer expects to make the payment, rather than after it has made the payment, but it would not be surprising if this requirement changes due to its vagueness and uncertainty.



25th-March-2013