Superannuation Update Tool - Details tab (Australia)

Payroll | Superannuation | Superannuation Update Tool | Details tab

Summary

The Details tab allows you to:

Control which employees will be included for updating
Set the new SG/Award Employer (%) contribution values
Control when the new changes will be applied.

Fields

Query:

Select a query to filter employees or accept the "Default" value to update all employees.

Employee:

Select an employee or leave blank to update all employees. You can select current employees only (i.e. employees with a blank termination date).

Current SG/Award Employer (%) Contribution:

This value determines which Employee Superfund records are included for updating. Only Employee Superfund records where the SG/Award Employer (%) value equals this field value, and where the corresponding Employer RESC (%) values match, will be included for updating. Change it to reflect the rate for the previous years legislated value, or change it to reflect your employee Award or company superannuation policy value for the previous year.

New SG/Award Employer (%) Contribution:

This value will be applied to the new Employee Superfund records.

Change it to reflect the new rate for the new years legislated value, employee Award or company superannuation policy value.

Current Employer RESC (%) Contribution:

This value determines which Employee Superfund records are included for updating. Only Employee Superfund records where the SG/Award Employer RESC (%) value equals this field value, and where the corresponding employer (%) values match, will be included for updating. Change it to reflect the rate you opted to pay for the previous year according to your company superannuation policy. Set to 0 if you did not elect to pay any RESC in the previous year.

New Employer RESC (%) Contribution:

This value will be applied to the new Employee Superfund records.

Change it to reflect the new rate that you have elected to pay your employees according to your superannuation policy. Should you not be electing to pay any RESC contributions, set this value to 0.

Application Date:

Mandatory field. Enter the effective from date that the change applies to. This could come from either:

The ATO
Other legislative, e.g. Award changes; or
Your company's superannuation policy

Please change this to the 01/07 of the new tax year.

The tool will update only current Employee Super Fund records that are active. It will not update records with a Start date that occurs afterwards.

Important: The Superannuation Update Tool will only update employee super fund records current in open or unopened pay sequences.