Payroll | Superannuation | Super Settings | Details tab
Summary |
Super Settings are date-effective records that contain legislative values used in superannuation calculations. We recommend creating a new record for each Australian financial year (1 July - 30 June, unless legislation changes arise outside this usual timeline), even if the values have not changed. When you save the new record, PayGlobal will automatically add an End date to the previous record. The Super rates and thresholds can be found on the ATO website. See: https://www.ato.gov.au/rates/key-superannuation-rates-and-thresholds/ Note: This tab page appears in Australian databases only. |
Fields |
Start date:Start date of the superannuation year for this record. This date cannot be later than the End date. End date:We recommend leaving this field blank until you create a new record for updated ATO values. This date cannot be earlier than the Start date. Max earnings base ($):The maximum super contribution base (MSCB or MCB) is used to define the maximum earnings at which an employer can choose to stop paying Superannuation Guarantee (SG) contribution amounts.
SG minimum percentage:The legislated minimum percentage of an employee's "eligible" earnings to be paid by the employer to the employee's complying superfund or retirement savings account (RSA).
When you process a pay, PayGlobal will use this value to validate if employee's total SG paid is equal to greater than this is percentage amount. If not a warning will be given. PayGlobal will not validate amount against the value recorded on an EmplSuperfund record because there are multiple combinations to achieve reaching SG obligations that can involve a mix of both % and fixed ($) dollar amounts. PayGlobal will also use this field for validating Employer Super Guarantee Amounts in the following reports:
For SG rates see ATO - SG % Minimum weekly hours worked:Note: The following fields/functionality will only apply to those employees who are on a Weekly pay period. This field sets the minimum amount of hours an Under 18 year old employee must work in a week to be considered for Employer Super contributions. This field should be set to 30 hours, as per Australian law. Until otherwise advised, this field should not need to be changed from 30 hours. Allowance group for weekly hours worked:Use this field to select an Allowance group to determine which allowances should be used to contribute to the number of hours worked in a week for Under 18's. The Allowance Group must be of type 'Quantity' (On the Details tab of the Allowance Group). The allowances contained in this allowance group which are present in the pay (for an under 18 year old employee) will have their transaction quantities summed and this sum will represent the hours worked in the pay. This total will be used in conjunction with the value specified in the ‘Minimum weekly hours worked’ field, to determine which pays generate super transactions. Important: Leave this field empty if you do not wish to use the Under 18 functionality. Employees under 18 will then continue to be treated as if they were adults with the respect to the payment of super if they earn more than $450 per month. i.e. once they cross the $450 per month threshold, super will generate on OTE for all weeks in the month irrespective of whether the employee has worked under 30 hours in each week. |
Validation |
When you save a Super Settings record, PayGlobal checks the following:
|
Pay Processing |
If you are using the PayGlobal superannuation framework, then pay processing requires a current Super Settings record to calculate the contribution thresholds. If the database contains Superannuation QTDs, but it does not contain a current Super Settings record, and the pay contains superannuation transactions, then pay processing will fail. Pay processing procedures for Australian superannuation calculations will generate a RESC value only if the pay's accumulators include a Superannuation PTD and a Superannuation QTD code. PayGlobal bases minimum/maximum threshold checks on the Superannuation PTD associated with that pay. If an employee's superannuation details change, then you need to:
|