If an employee earns $100,000 but has a Pre tax Novated lease deduction of $10,000.
Is the super based on the $100,000 or the $90,000 after the Novated lease deduction.
If the employer choices to pay super based on the $100,000 is it considered RESC as the employee chose to enter into a Novated lease agreement?
For super guarantee purposes, the employer would only be required to pay super based on a salary of $90,000.
Whether or not additional amounts are considered RESC would depend on the specific circumstances. The ATO website includes some examples of when contributions should be classified as RESC.
For super guarantee purposes, the employer would only be required to pay super based on a salary of $90,000.
Whether or not additional amounts are considered RESC would depend on the specific circumstances. The ATO website includes some examples of when contributions should be classified as RESC.
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