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Working out How much Super

THE BUZZ IS OUT!

For those of you that handle payroll, have you ever been provided with a gross salary figure (including superannuation) and needed to work out how much super to pay to the employee’s super fund?
 
The formula is:
 
Gross Figure divided by 1.095
 
This will give you the superannuation-exclusive figure.
 
The difference between this figure and the gross figure is generally the amount that must be paid into super.
Category
ABN
Published
16 Oct 2017
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