In particular, the Superannuation Guarantee (Administration) Amendment (Jobkeeper Payment) Regulations 2020Â specify that amounts of salary or wages that do not relate to the performance of work, and are only paid to satisfy the wage condition for JobKeeper, are excluded from super guarantee obligations.
The regulations recognise that in some cases, an eligible employee will receive an amount greater than their usual salary or wages because of the JobKeeper payment, noting that an employer should only have to pay super contributions in relation to an employee’s performance of work.
Accordingly, the regulations are designed to balance adequate superannuation support for employees with assistance for businesses in this period of downturn.
The regulations affect an employer’s superannuation guarantee obligations from the commencement of the JobKeeper scheme on 30 March 2020, and will have some retrospective application.
Exemplifying the latest changes, the explanatory memorandum accompanying the amendments introduces Rachel, a part-time employee who continues to earn $1,000 per fortnight, plus an additional $500 that her employer has to pay to satisfy the wage condition.
The memorandum explains that the additional payment of $500 is excluded from being salary or wages, meaning it is not subject to super guarantee obligations.
The regulations also explain that if salary or wages are below $450 for a calendar month, then they too are excluded from superannuation contributions. Â Â
To view the new regulations, click here.
