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Reportable Employer Super Contribution (RESC) on Payment Summaries – Is it Grossed Up?

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Business Calculation

Reportable Employer Super Contributions

Do you need to report RESC including salary sacrifice (non super) amounts to Grossed Up for the Payment Summaries? No you do not need to gross up. Just link the “extra” or salary sacrifice super categories to be reported at RESC as they are, not grossed up like FBT is.Reportable Employer Super Contributions to go on Payment Summary

Reportable employer super contributions are those contributions your employer makes for you where all of the following apply:

  • You influenced the amount or rate of super your employer contributes
  • The contributions are additional to the compulsory contributions your employer must make under any of the following:
    • Super Guarantee Law
    • Industrial Agreement
    • Trust Deed or Governing Rules of a Super Fund
    • Federal, State or Territory Law.

For Example – Jane is paid a salary $100,000 gross plus the Super Guarantee of 9% ($9,000). Jane requests to salary sacrifice $10,000 off her gross wage to her nominated super fund. The Employer now pays Jane $90,000 gross and $19,000 is sent to her super fund.

Jane’s reportable super amount on her payment summary at year end is $10,000.

See the Aust Tax Office page here http://www.ato.gov.au/content/00270020.htm 

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Author: accountkeepingplus

Administration, bookkeeping and compliance for small business, and Self-Managed Super Funds (SMSF) Training, trouble-shooting, or we can do the books and payroll for you! Self Managed Superannuation Fund Service Provider, Free support MYOB Certified Consultant, Reckon/QuickBooks Professional Partner.

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