Client emailed – Hi Paul,
Can you please tell me is Superannuation payable to casual employees??? If so, it’s after the $450 earning for a month – is that right?? Also I have an employee who earns $300 p/w, therefore there is no super in the first week of the month pay as he is under $450 calculation for the month so it starts to calculate after Week 2….. I have just printed his payslip and there is no super on it (which is correct) BUT there is no YTD carry over, how do I correct this?? Cheers.
Solution – For casuals, yes super is only required by law once the GROSS wages are over $450 per month. So it is assessed EACH month, and by ticking in MYOB or Quickbooks etc to monitor this threshold, the calculation is automated for you. As you found, the first pay of $300 doesn’t generate any super, until the next pay, let’s say it’s another $300 which now brings the monthly gross over $450 – note that then the software will calculate the 9% super on BOTH weeks of pay and will generate it on pay 2 on $600. The software is self-adjusting, and you can manually type in some super if you want to. See ATO sight HERE about super obligations.
With the Year To Date (YTD) it maybe that the “Print on Payslip” is not ticked. Also, super is not “Carried over” each year, it is usually shown for the current payroll year in line with the Gross and Net for the year, as payroll is recorded and measured and reported annually.
The complete ATO sight businesses need is Employers superannuation – home.