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 payslip.
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 $55,270 to $57,090. It is important that you check each Award configuration in Wagemaster has the “Superannuation Guarantee Cap” increased in accordance with the applicable value for 2020/2021.
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.
The screenshot below is an example of the Superannuation Setup for all other NES Awards.
Note: The Superannuation Guarantee Cut-in Amount is $450. Please check with your relevant
associations or Fair Work if unsure.