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Re: Superannuation contribution calculation error - how to deal with discrepancies less than $1?

Initiate

Views 102

Replies 2

Hi, 

 

I do apologies for the odd question but I am doing internal auditing and due to a software error, my cross check calculation showed me few discrepancies in employee contributions less than a dollar , 50 - 80 cents 

I can easily adjust them as they are related to the current quarter,  except one - because the employee was terminated and  it happened in previous quarter. 

Do I have to adjust a discrepancy due to a software error that is less than a dollar and therefore submitting SGC statement or 

a calculation error less than $1 is omitted? 

I never came across such an issue before  with previous Payroll systems , that's why I am asking this silly question. 

 

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Most helpful response

Devotee Registered Tax Practitioner

Replies 1

I do apologies for the odd question but I am doing internal auditing and due to a software error, my cross check calculation showed me few discrepancies in employee contributions less than a dollar , 50 - 80 cents 

I can easily adjust them as they are related to the current quarter,  except one - because the employee was terminated and  it happened in previous quarter. 

Do I have to adjust a discrepancy due to a software error that is less than a dollar and therefore submitting SGC statement or 

a calculation error less than $1 is omitted? 

 

No  -  you will not be thanked by anyone for lodging any forms for issues under $1.

Software issue, so not intent to defraud employee or ATO.

 

Existing employees can be adjusted.

 

2 REPLIES 2

Most helpful response

Devotee Registered Tax Practitioner

Replies 1

I do apologies for the odd question but I am doing internal auditing and due to a software error, my cross check calculation showed me few discrepancies in employee contributions less than a dollar , 50 - 80 cents 

I can easily adjust them as they are related to the current quarter,  except one - because the employee was terminated and  it happened in previous quarter. 

Do I have to adjust a discrepancy due to a software error that is less than a dollar and therefore submitting SGC statement or 

a calculation error less than $1 is omitted? 

 

No  -  you will not be thanked by anyone for lodging any forms for issues under $1.

Software issue, so not intent to defraud employee or ATO.

 

Existing employees can be adjusted.

 

Initiate

Replies 0

Many thanks for the prompt reply Bruce4Tax! Yes - the discrepancies occurred due to a rarely used pay code being set up incorrectly either from the  software provider, either from the software team who did the initial system implementation. That's why we , the current Payroll team adopted the practice for quarterly self audit.