• Individual employment contracts

    If you're on an individual employment contract, you can generally influence the amount of super your employer pays for your benefit.

    The contributions your employer makes from pre-tax income over any compulsory contributions they must make are reportable employer super contributions.

    Example 7

    Yoruba is an employee of Car Co Pty Ltd (Car Co). While negotiating his common law employment contract, Car Co offered to increase Yoruba’s super contributions by $10,000 above their compulsory contributions as part of his employment benefits.

    Yoruba was allowed to consider and negotiate his employment benefits, which means he could influence the amount of contributions his employer makes for his benefit.

    Car Co must record the extra $10,000 contributions as reportable employer super contributions on Yoruba’s payment summary.

    End of example
      Last modified: 01 Sep 2016QC 22119