The term Reportable Employer Superannuation Contributions refers to superannuation contributions made by your employer into your superannuation account over and above the contributions that they are required to make (extra contributions).
How do I know if a Reportable Employer Superannuation Contribution has been made?
The Australian Tax Office (ATO) provides the following guidance in relation to such contributions.
Reportable Employer Super Contributions are those contributions your employer makes for you where all of the following apply:
- you influenced the amount or rate of super your employer contributes
- the contributions are additional to the compulsory contributions your employer must make under any of the following:
– Superannuation Guarantee Law
– An Industrial Agreement
– The Trust Deed or Governing Rules of a Super Fund
– A Federal, State or Territory Law
The Australian Tax Office goes on to illustrate the following:
| What are Reportable Employer Superannuation Contributions | What are not Reportable Employer Superannuation Contributions |
|---|---|
| Contributions made under a salary sacrifice agreement | All super guarantee contributions |
| Additional amounts paid to your super fund (for example – you direct an annual bonus to be paid to super) | Compulsory super contributions required by the governing rules of a super fund or required by an Australian Government state or territory law |
| You negotiated an increased super contribution as a part of your salary package (for example – under individual employment contracts) | Employer super contributions made under a collectively negotiated industrial agreement |
Note: Superannuation Contributions made with your after-tax income are NOT Reportable Employer Superannuation Contributions.
What is the value of your Reportable Employer Superannuation Contributions?
To calculate the Reportable Employer Superannuation Contributions you have received or are expected to receive, add up the total superannuation contributions that your employer has or will make throughout the financial year and take away the contributions that they are required to make. You will then be left with your Reportable Employer Superannuation Contributions.
Reportable Employer Super Contributions are important for calculating things like the Super Co-Contribution.
How are Reportable Employer Superannuation Contributions Reported?
You employer must report all of your Reportable Employer Superannuation Contributions in your end of year Payment Summary. This amount should then be included in your tax return so that the Australian Tax Office can calculate your total Reportable Employer Super Contributions.
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