What are Reportable Employer Superannuation Contributions?
Reportable employer super contributions are:-
- contributions made under a salary sacrifice agreement
- additional amounts paid to an employee’s super fund – for example, an annual bonus paid to super
- employee-negotiated increases in super contributions as a part of their salary package – for example, under individual employment contracts
Reportable employer super contributions are not:-
- super guarantee contributions
- compulsory super contributions required by the governing rules of a super fund or required by a state or territory law
- employer super contributions made under a collectively negotiated industrial agreement
Reportable employer super contributions are not included in an employee’s assessable income; however:-
- the employer must report them to the Australian Taxation Office as part of the annual payment summary reporting
- the employee must report them to the Australian Taxation Office in their tax return
