From 1 July 2009, there are a number of changes on the reporting requirement of the PAYG Payment...
PAYG Payment Summary: Superannuation Contributions
Recently we posted a blog that highlighted the reporting changes to the 2009/2010 PAYG Payment Summary forms for employees.
In particular we noted that compulsory 9% superannuation contribtions were NOT required to be reported on the new forms.
We have notice that a common mistake being made by employers is incorrectly showing the 9% superannuation guarantee contribitions on the employees payment summary. In these situations you should request your employer prepare an amended payment summary with the correct details.
Having an amount shown as reportable superannuation contribution will affect the following benefits and obligations:
This article has been prepared for the purposes of general information and guidance only. It should not be used for specific advice or used for formulating decisions under any circumstances. If you would like specific advice about your own personal circumstances please contact our office.