Hi,
We've noticed that we've not paid an employees matching super contribution for the previous financial year. They've salary sacrificed $200 per fortnight, and we are to match that contribution. How would we back pay this? Do we have to reissue their Income Statement?
Hiya @bilovesi 👋
Isn't your super matching scheme part of a 'documented policy' or a 'collectively negotiated industrial agreement'? If so, it's not RESC, as per the ATO guidance.
What would be RESC, was if the matching super contribution was part of the individual's contract agreement that they negotiated with you.
If it is RESC, and you didn't pay it last FY, what would you amend? If you pay it now, and it is RESC, you would report it this FY. It's about when you paid, not when it was 'earned'.
Deanne
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