Reporting requirements

Under proposed measures, employers will be required to report on employee payslips:

  • Actual contributions paid rather than just accrued contributions,
  • The period over which the contributions were accrued, and
  • Information about which fund the contributions are being paid into.

Although legislation was passed in relation to these payslip reporting requirements, no regulations have been made setting out the specific reporting requirements. Accordingly, no changes are necessary for 1 July 2013.

RESCs

If you make super contributions under a salary sacrifice arrangement or extra super contributions to a super fund for an employee, you may need to report those contributions on your employee's payment summary.

These contributions are called 'Reportable Employer Superannuation Contributions (RESCs). RESCs are those contributions where all of the following apply:

  • Your employee influenced the rate or amount of super you contribute for them
  • The contributions are additional to the compulsory contributions you must make under the following
    • super guarantee law
    • an industrial agreement
    • the trust deed or governing rules of the Fund, or
    • a federal, state or territory law.

RESCs are not included in your employee's assessable income. However, you must report them to the ATO as part of your payment summary reporting.