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ATO Information

What does RESC mean and how will it effect me?

Reportable Employee Superannuation Contributions
The Australia Taxation Office has recently introduced legislative changes in regards to superannuation for the 2009–10 income year and all future years, if you make super contributions
under a salary sacrifice arrangement or extra super contributions to a super fund for an employee, you may need to report these contributions on your employee’s annual payment summary.

These contributions are called Reportable Employer Super Contributions (RESC) and are not included in your employee’s assessable income however they do affect a range of government entitlements and obligations for individuals.

What are reportable employer super contributions?
RESC are those contributions you make for an employee where all of the following apply:
The employee influenced the rate or amount of super you contribute for them
The contributions are additional to the compulsory superannuation contributions you must make under any of the following:
Super Guarantee Law
An industrial agreement
The trust deed or governing rules of a super fund
A federal, state or territory law

What you need to do:
Ensure your Payroll software is up to date and compliant at 01 July 2009 before you process the first pay of the year
Report these amounts to the Australian Taxation Office as part of your annual payment summary reporting in June 2010
Advise your employee to report them to the Australian Taxation Office in their income tax return for 2010
You must keep detailed records to:
Report each employee’s RESC in your payroll, reporting and record keeping systems
Provide accurate information to your employees if they request information on their RESC

Are you an employer?
You are an employer for the purposes of RESC if you employ/engage workers under a verbal or
written employment contract on either a:
full-time basis
part-time basis
casual basis
You may also be considered an employer if you make payments to a person under a contract for labour. If you are considered an employer under the super guarantee law, you will be considered an employer for the purposes of RESC.
Further information: www.ato.gov.au/businesses
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