GLOBAL PAYROLL MAGAZINE
75
ay Super: Key lobal Payroll Teams
“Superannuation compliance may seem simple, but ensuring accuracy and timeliness consistently is challenging as it requires careful management and attention to detail. ”
Setting up pay codes : Handling single or mixed pay codes can be tricky and often requires manual work, increasing the risk of errors. Handling unique scenarios : Payroll systems may also struggle with unique scenarios, leading to manual management and a higher risk of Superannuation Guarantee Charge (SGC) liabilities.
The relationship between Enterprise Agreements (EAs) and superannuation : EAs may include various allowances outlined that can affect the way superannuation contributions are calculated, leaving room for misinterpretation. This along with modern awards and entitlements, adds even more complexity.
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