There are a number of Superannuation data fields in Venus.
Data Entry > Types > Super
Record the Superannuation Funds, with postal address, nominated by your Nurses.
Data Entry > Super Setup
The Employer Compulsory Superannuation Contributions and the monthly threshold amounts are recorded on the Super Setup screen and updated by This Planet as the legislation changes.
Your Agency can change the following fields –
- Super SS (Salary Sacrifice) Reduces Guarantee:
Yes – Reduces an Employer’s Super Contribution by the Candidates Super Salary Sacrifice amount.
No – Candidate Super Salary Sacrifice amount does not reduce an Employer’s Super Contribution.
- Suppress Super Zero Amounts:
Yes – Exclude $0 Super amounts from payslips and Super Reports.
No – Includes $0 Super amounts.
All other fields are updated by This Planet to comply with Superannuation legislative requirements.
Employer Compulsory Super
Venus deducts the Employer Compulsory Superannuation when a Nurses combined Super Gross Wages for the month exceeds $450.
Superannuation calculations are based on when the wages are paid, not when the wages were earned.
Super Gross is based on the total paid in wages plus any super effecting allowances and adjustments for the month. When calculating the Employer Compulsory Superannuation, Venus looks up all previous payslips for the month plus the current payslip and calculates the accumulated monthly Super Gross.
The accumulated monthly Super Gross is then multiplied by the required compulsory percentage to give the accumulated Employer Superannuation. Previous Employer Super amounts are then deducted from the accumulated Employer Super to give the Employer Super on the current Payslip.
The Employer Super calculation caters for Nurses who only work a few shifts a week and may not reach the $450 Super Threshold in any one payslip for the month but who earn more than $450 per month.
Ignore Monthly Super Limit (The $450 Rule)
To pay a Nurse the compulsory employer superannuation contribution, even if the Nurse does not meet the $450 gross per month threshold, select the “Ignore Monthly Super Limit ($450 Rule)” box on the Nurse Super tab.
Employee Salary Sacrifice and Voluntary Superannuation Contributions
Salary Sacrifice Superannuation Contributions are made by a Nurse from their pre-tax pay.
Voluntary Superannuation Contributions are made by a Nurse from their net or post-tax pay.
If a Nurse elects to pay additional superannuation, either a fixed weekly amount or a percentage of the weekly wage, the information is recorded in the Nurse Super tab.
Pay and Employer Compulsory Superannuation Adjustments
Nurse > Nurse Pay Adjustment
When processing a Pay Adjustment that must be included in Employer Compulsory Superannuation calculations, ensure you check the “Include in Compulsory Super” box.
If you are processing an adjustment that is amending a previous Super Contribution, you can record the specific amount of super to be processes against the Pay Adjustment.
Superannuation Reports & HESTA QuickSuper Extract
Reports > Financial Reports > Superannuation
A range of superannuation reports and the QuickSuper Extract required by Hesta are available.