Setting Up Qualifying Earnings (AU)
In Australia, qualifying earnings (QE) are used as the basis for calculating an employee's super guarantee (SG). To make sure MYOB Acumatica correctly calculates SG, you need to set which pay items are liable for QE.
However, some employees might have awards or agreements that mean they receive payments liable for SG but not liable for QE. For example: overtime, paid parental leave and workers compensation while not working. For these pay items, you can select the Liable for Superannuation (SG) checkbox and deselect the Liable for Qualifying Earnings (QE) checkbox.
For more information about qualifying earnings, see the Australian Taxation Office (ATO) website: Explaining qualifying earnings and What payments are qualifying earnings.
Pay item liabilities if an employee is under 18 years old
Although the ATO only requires employers to pay superannuation to employees under 18 if they work more than 30 hours a week, your company might choose to voluntarily pay them superannuation if they work less than 30 hours.
For more details, see the Australian Taxation Office (ATO) website.
Pay item liabilities differ depending on if the payment is voluntary or required:
- Voluntary for less than 30 hours a week: liable for SG but not liable for QE.
- Required for more than 30 hours a week: liable for both SG and QE.