2023-24 super settings group correction - Australia
This article is to let you know about two errors in the Add Super Settings Record section on page 19 of the MYOB PayGlobal Tax Year End Procedures: Australia – June 2023 guide, and explain how to fix them.
Max earnings base
We gave an incorrect figure for the Max earnings base field, of $60,270. The correct figure is $62,270.
To fix correct this, open your Super Settings Record and update the Max earnings base field.
Minimum weekly hours and allowance group for employees under 18 years old
To accomodate the new rules for paying super guarantee to employees aged under 18 years who have worked at least 30 hours per week, we said the Minimum weekly hours worked should be 30.00, and the Allowance group for weekly hours worked should be left blank. This advice didn't account for all situations, so depending on how you pay super to these employees, you'll need to set this up differently.
Super guarantee paid regardless of hours worked
If you pay super guarantee to employees ages under 18 years regardless of how many hours they work, make both Minimum weekly hours worked and Allowance group for weekly hours blank. They will get paid super guarantee the same as employees aged 18 and over.
Super guarantee only paid when working over 30 hours
If you only pay super guarantee to employees ages under 18 years when they work 30 or more hours a week, you will need to set their Minimum weekly hours worked to 30, and select an Allowance group for weekly hours to calculate whether they qualify for super based off their OTE hours.
If you don't have such an allowance group, create one with these settings:
- Select Quantity for the Type.
- Include all allowances that represent the hours worked in these employees pays.
This will be used, along with the Minimum weekly hours worked field, to determine the pays that qualify for super.
For more information, see Super Settings - Details tab (Australia) in the PayGlobal online manual.
Qualifying hours are always calculated on a weekly basis In pay periods longer than a week, MYOB PayGlobal uses the weekly average to determine whether an employee qualifies for super guarantee. For example, it will take the total hours of a monthly pay and divide them by 4.33, then compare that to the minimum weekly hours worked field. There is no option to change this.