Payroll and OTL - EBS (MOSC)

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Australia - Payday Superannuation Update

in Payroll and OTL - EBS (MOSC)

The ATO still has a number of clarifications around Payday Super but Oracle has now commenced work on the development of a solution.

At this stage, we are targeting delivery by late January to mid-February.

A high-level overview of the approach is outlined below (this is subject to change):

  • Superannuation calculation and STP reporting will remain unchanged. The balance used to calculate superannuation liabilities will not be altered.
  • A new balance will be introduced to record Qualifying Earnings (QE). STP reporting will be enhanced to include QE values. Superannuation will not be calculated on the QE balance; it is for
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