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user08402
August 26, 2020
Question

Reportable employer super contribution

  • August 26, 2020
  • 1 reply
  • 0 views

To whom it may concern,

 

I would like to pay the employee Reportable employer super contribution (should be label IT2 in pre-filling report on tax return).

Do I need to choose super sacrifice or employer contribution?

And this super payment is included in employee's gross earning?

Please advise me.

 

Regards,

Esther

 

1 reply

Steven_Product Champion
Steven_Product Champion
August 26, 2020

Hi user08402

 

In order for the funds to be Reportable Employee Super Contributions ( RESC), the earnings will need to be set up in QuickBooks as a Salary Sacrifice paid to a super fund. By clicking here you can see the steps of how to record RESC amounts to ensure they appear correctly on the payment summary/income statement in QuickBooks Payroll. I hope you understand that for advice regarding tax returns it would be best to speak with an registered Tax agent or accountant who can advise on what is the best tax outcome for your business. However, by selecting the link it will assist with the steps of how to record this. 

 

Thanks, 

 

-Steven

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