As part of the ATO Single Touch Payroll system and inline with the new Payday Superannuation requirements, a new setting within the Pay Allocation Maintenance menu called ‘Qualifying Earnings’ has been created. This is to allow users to identify if the Pay Allocation qualifies under the new ATO Qualified Earnings parameters for Payday Superannuation guarantee (SG).
Sites will need to update their Pay Allocations prior to the July 1st start date.
Users can find out more information regarding ‘Qualified Earnings’ from the ATO website here.
