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Re: Reportable employer superannuation contributions

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Newbie

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I started working in my current role at the end of May 2018, I have one payment going into my super account on the 26/06/2018 but on my payment summary for 17/18 my employer had $0 Reportable employer superannuation contributions.  For the 18/19 tax year, the Reportable employer superannuation contributions are also less than the amount that went into my super for the 18/19 tax year (ignoring the amount from the 17/18 year). 

 

Question 1:  Do I need to have my tax for the 17/18 tax year redone?

Question 2:  Is there any impact of this mistake if the money did go into my super account?

 

Another question also to do with Super, one of my payments for the 18/19 tax year was mistakenly paid into a colleagues super fund.  A correction has been lodged for this but the payment has not gone into my super account yet.  Will this payment form part of my 18/19 tax year even though my super account did not receive the payment or will it be part of the 19/20 tax year?

 

Thanks! 

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Community Support

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Hi @Tier,

 

Thanks for posting.

 

As @ariellead mentioned, the compulsory super contributions your employer makes on your behalf aren’t reportable employer super contributions (RESC).

 

Regarding your salary sacrifice contributions in the 2018-19 financial year, your employer will report these amounts on your payment summary for the financial year that the contribution relates to – this can be different from the financial year your super fund receives the contribution.

 

So for example, you have your salary sacrifice contribution deducted from your salary and wages in June 2019 however your super fund doesn’t receive the contribution until July 2019.  Your employer would report the salary sacrifice contribution as RESC on your 2018-19 payment summary, even though your super fund received the contribution in the 2019-20 financial year.

 

You may want to check out Completing payment summaries on our website for more information on how your employer reports your RESC on your payment summary.

 

Hope this helps. Let us know if you have any further questions.

 

Thanks, NicM

3 REPLIES 3
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Champion

Replies 2

Hi @Tier 

 

Just confirming that you are aware that Reportable Employer Super Contributions (RESC) is salary sacrified super and not your SGC amount (9.5%)

If your employer isn't paying super at least quarterly they won't be able to claim the amounts as a business deduction and will still be liable to pay the amounts and potentially also be penalised.

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Newbie

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@ariellead Thanks - That's the mistake I made. I`ll review it again! 

 

 

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Best answer

Community Support

Replies 0

Hi @Tier,

 

Thanks for posting.

 

As @ariellead mentioned, the compulsory super contributions your employer makes on your behalf aren’t reportable employer super contributions (RESC).

 

Regarding your salary sacrifice contributions in the 2018-19 financial year, your employer will report these amounts on your payment summary for the financial year that the contribution relates to – this can be different from the financial year your super fund receives the contribution.

 

So for example, you have your salary sacrifice contribution deducted from your salary and wages in June 2019 however your super fund doesn’t receive the contribution until July 2019.  Your employer would report the salary sacrifice contribution as RESC on your 2018-19 payment summary, even though your super fund received the contribution in the 2019-20 financial year.

 

You may want to check out Completing payment summaries on our website for more information on how your employer reports your RESC on your payment summary.

 

Hope this helps. Let us know if you have any further questions.

 

Thanks, NicM