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Superannuation Obligations 2019/2020

Superannuation parameters need to be set up as per the Super Guarantee Levy (SGL) as set by the ATO as a minimum or in accordance with your association guidelines. Payment conditions do need to be considered carefully as they will affect the calculation. 

NOTE: Remember the SGL calculation is a monthly calculation, rather than a per pay calculation. Therefore, if checking a super calculation for an employee, it needs to be done in the context of all pays saved in the month, rather than a single pay slip. 

The minimum level of employer superannuation guarantee contribution i.e. SGC has been frozen to 9.5% but the “maximum contribution base” i.e. “Superannuation Guarantee Cap” has increased from $54,030 to $55,270. It is important that you check each Award configuration in Wagemaster has the “Superannuation Guarantee Cap” increased in accordance with the applicable value for 2019/2020. 
Go To:  Setup > Award > Select the award > Payments > Superannuation 

If a super adjustment is required, do this in the last pay of the month as it will affect your super tracking and may result in underpayment of superannuation to your employees. 

 

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