Finding your superannuation liability
Superannuation becomes payable once an employee begins to exceed $450 in payments in a calendar month.
The (SG) is the minimum payment that needs to be paid to an employee’s super fund. The SG is 9.5% of an employee’s ordinary time earnings.
Running the report in Xero
Reports > All Reports > Payroll Reports > Superannuation Accruals. Edit drop-down boxes as required and click update.
Note: to group information by employee, click the “Standard View” drop-down box and select “Group by Employee”.
Running the report in MYOB
Payroll > Payroll Summaries > enter relevant period > Summary Report.
Each employee’s superannuation amount will be shown in the Super column.