PAYG Payment Summary: Superannuation Contributions
- Arnold Shields
- Jul 23, 2010
- 2 min read
Updated: Jun 18
Recently we posted an update outlining the reporting changes to the 2009/2010 PAYG Payment Summary forms for employees.
One key point was that the compulsory 9% Superannuation Guarantee (SG) contributions should not be reported in the “Reportable Employer Superannuation Contributions” section of the new PAYG Payment Summaries.
However, we’ve noticed a common mistake: employers incorrectly reporting the compulsory 9% SG contributions as reportable super. This is not just a technical error, it can significantly affect your entitlements and tax obligations.
If you see the 9% SG amount listed on your payment summary as a reportable contribution, you should ask your employer to issue an amended payment summary reflecting the correct treatment.
Why It Matters
Incorrectly reporting SG contributions as reportable can impact:
Medicare levy surcharge threshold
Dependency tax offset
Senior Australians tax offset
Pensioner tax offset
Mature age worker tax offset
Spouse superannuation contributions tax offset
Government super co-contribution
HELP and SFSS repayments
Deduction eligibility for personal super contributions
Deductibility of business losses under non-commercial loss rules
What You Should Do
Check your payment summary carefully. If the 9% SG is incorrectly included in the reportable super field, contact your employer and request an amended summary. It’s essential this is rectified before lodging your tax return to avoid penalties or missed entitlements.
At Dolman Bateman, we’re here to help you navigate these issues. If you're unsure how your PAYG Payment Summary affects your tax outcome, get in touch with our team for support.
Disclaimer:
The information provided in this article is general in nature and does not constitute personal financial, legal or tax advice. While every effort has been made to ensure the accuracy of this content at the time of publication, tax laws and regulations may change, and individual circumstances vary. Dolman Bateman accepts no responsibility or liability for any loss or damage incurred as a result of acting on or relying upon any of the information contained herein. You should seek professional advice tailored to your specific situation before making any financial or tax decision.
