You can set up special deduction codes to manage any personal or company superannuation schemes.

Note: KiwiSaver deduction codes are already set up for you with the appropriate rules. See KSE - KiwiSaver and KSR - KiwiSaver Employer Contribution.

Personal Superannuation Contribution

Simply set up a deduction to record details of the person's superannuation deduction.

Note: Select the 'Standard Deduction' Deduction Type when creating this deduction.

Company Contribution (Subsidy)

Where the organisation makes a contribution (subsidy), it is necessary to set up a second deduction code to record details of the subsidy. The person will be given two deductions on their Timesheet Template - one for their contribution and one for the subsidy.

Note: Select the appropriate 'Super Subsidy' option for this deduction's Deduction Type. As well as identifying this as a superannuation subsidy, it also ensures that the correct Contribution Tax (ESCT) is calculated.

Superannuation Reports

Superannuation information can be found on several reports:-

• Your Pay Control Report summarises contributions and ESCT.
• Your Deduction Schedule can be used for personal contributions.
• Your Superannuation Schedule is best for company contributions and shows ESCT calculations.
• If ESCT is deducted, it is shown on your IR345 Remittance submitted to Inland Revenue.

Multiple Superannuation Rates (Tip)

Often people contribute at different percentage rates into the same superannuation scheme. If this occurs, set up the superannuation deductions to calculate at 1% (i.e. enter 1.00 into the Rate Amount field). Then enter the person's individual percentage in the Quantity field on the person's deduction on their Timesheet Template.