Monthly Superannuation Calculation - Changes to minimum threshold

Modified on Thu, 5 Mar at 1:20 AM

Monthly Superannuation Calculation - Changes to minimum threshold from 01/07/2022

From 1st July 2022, a new government ruling comes into effect, relating to a change to the Superannuation Guarantee Contribution (SGC) rules for calculating super for employees.

Historically there has been a minimum $450 per month threshold, where any
employee earning less than this amount in a given month, was not required to receive SGC payment for that month.

The new rule that becomes effective 1st July, removes that threshold entirely - meaning SGC payments are also applicable to any employees earning less than $450 in a month.

ATO website article:

https://www.ato.gov.au/General/New-legislation/In-detail/Super/Removing-the-%24450-per-month-threshold-for-superannuation-guarantee-eligibility/

 

Viewing and setting the Superannuation calculation threshold value in Synergetic

 

Synergetic stores the default threshold value in Payroll Configuration Maintenance, on the General tab.

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Calculating Superannuation 

Once you have amended the threshold amount, the next time you use the Monthly Superannuation Calculation program, it will use this default (you can also manually change the value on the calculation screen).

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