Hmm … I would have said the Accountant was correct (…. for a change!)
My understanding is that on the Payment Summary, Reportable (Salary Sacrifice) Fringe Benefit Assets are shown at RFB & the same applies for (Salary Sacrifice) Super to be shown as RESC.
That is, any amount that provides a tax benefit to the employee.
When checking out your link - ICB – Reportable Employer Superannuation Contributions, the below quoted from 2. If RESC is wrong, does it matter? appears to support this:
We Quote from the ATO Website:
Incorrect amounts at reportable employer super contributions on payment summaries.
Some employers have been incorrectly including compulsory super amounts as reportable employer super contributions on their employees’ payment summaries, such as:
- super guarantee contributions
- industrial agreement (award) super contributions
Reportable employer super contributions should only include additional super contributions made by an employer, for example super contributions made on behalf of an employee under a salary sacrifice arrangement.
This was the scenario in this month’s Question.
Any Super above the award-stated compulsory SGC amount - either paid directly by the Employer or paid by the Employer from the employee’s gross pay (Salary Sacrifice) - I would be classifying as RESC.
The only non-compulsory Super I would not be including would be any after tax contributions (eg from employee’s net pay) on behalf of the employee.
Edited at 19 Aug 2016 08:32 AM GMT