Newreporting obligations for employers

Written on the 5 June 2009

EMPLOYERS will need to make changes to their payroll systems and update payment summaries to include reportable employer super contributions under new reporting obligations to come into effect from July 1.

Reportable employer super contributions generally include super contributions under a salary sacrifice arrangement or extra super contributions made on behalf of an employee to a super fund. The contributions are not included in employee’s assessable income, but;

• Employees must report them in their income tax return.
• Employers must report them to the Tax Office as part of your payment summary reporting, and Medicare levy surcharge threshold calculation. Payment summaries and PAYG withholding annual reports for the 2009-10 income year will be updated to include reportable employer super contributions.

Employers may wish to review PAYG arrangements with employees to make sure the tax that is withheld from their salary, wages and other income is still enough to cover the amount of tax they are liable to pay.

Reportable employer super contributions affect a range of government entitlements and obligations for individuals including:

Medicare levy surcharge (lump sum payment in arrears) tax offset; dependency tax offsets; senior Australians tax offset; pensioner tax offset; mature age worker tax offset; spouse super contributions tax offset; super co-contributions; deduction for personal super contributions, and Higher Education Loan Program and Student Financial Supplement Scheme repayments.


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