Payment Summary - ETP

James_8240475
James_8240475 Member Posts: 29 Novice Member Novice Member
edited July 2017 in Accounts Hosted
I have an employee, who was made redundant, whose ETP Payment Summary is having an amount as " Total Tax Withheld " and " Taxable Component" . The two components of her ETP were " ETP Post June 83 " and " ETP Payment in Lieu of Notice ". Should those amounts appeared on her Payment Summary ? Thanks.

Comments

  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited March 2017
    Hi James,

    Thanks for asking and sorry for the delay in getting back to you.

    Check your circumstances against our full guide for terminating an employee which contains a section on ETPs.

    Hope this helps.


    regards,
    John.
  • James_8240475
    James_8240475 Member Posts: 29 Novice Member Novice Member
    edited July 2016
    Hi John
    Thanks for the notes.
    Do you know how to fix a payment summary where the non taxable amount has been picked in the taxable section ?
    Regards
    James


  • Carolyn Foster
    Carolyn Foster Member Posts: 2 Novice Member Novice Member
    edited July 2016
    I am having the same problem.  ETP tax (under the cap) is 32%, however when I print Payment summaries they calculate at 49%. Any ideas on how to fix?

  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited July 2017
    Hi James,

    What was the non-taxable ETP item?
    Generally, only a death benefit has a non-taxable component, and unfortunately Reckon Accounts does not handle that type of payment.

    Otherwise, the time will be a Lump Sum item that appears on the INB payment Summary.


    regards,
    John
  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited March 2017
    Hi Carolyn,

    Welcome to the Reckon Community.

    sounds like your ETP payroll item has been assigned to the wrong tax tracking type.  Check out the guide mentioned above.  You should use Post June1983 Untaxed Element (low rate threshold) for payments that will attract either the 17% or 32% tax rate, depending on the age of the employee.

    Hope this helps.

    regards,
    John
  • Carolyn Foster
    Carolyn Foster Member Posts: 2 Novice Member Novice Member
    edited July 2016
    Hi John,
    I looked into the date of birth this morning and yes it was over the Preservation by one year.  When I amended the Payroll item to reflect this, it calculated correctly.
    Thanks again
    Carolyn
  • James_8240475
    James_8240475 Member Posts: 29 Novice Member Novice Member
    edited July 2016
    Hi John
    We have two components for the ETP
    ETP Post June 83 -taxed @32 %
    ETP Payment in Lieu of Notice
    My understanding is since both items fall below the tax free threshold, they are both non taxable. When i check the ETP Payment summary, the first item is taxed at 32% and the second item is taxed at 49 %

    Is the tax tracking an issue ?

    Regards

    James
  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited July 2016
    Hi James,

    The ETP tax tracking is correct.  The Individual non-Business PAYG withholding scales are separate to ETP tax scales.  
    Please discuss with your Accountant on the tax status of this payment and your employee.  

    regards,
    John.
  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited July 2016
    Great to hear Carolyn.

    regards,
    John.
  • James_8240475
    James_8240475 Member Posts: 29 Novice Member Novice Member
    edited July 2016
    Hi John
    I have 4 employees who have an amount in the " Reportable Employer Superannuation Contributions " section of their Payment Summaries.
    They are paid 9.5 % Super and they do not salary Sacrifice.
    Can i can fix it ? Thanks
    Regards
    James
  • Reckon FAQs
    Reckon FAQs Reckon Staff Posts: 357 Reckon Staff
    edited March 2017
    Hi James,

    Identify which payments are being recorded to RESC - Super Report by Employee Report and add in the RESC Amount field.  The Report will display all pays for each employee.  Check the pay that has a RESC amount and determine why that amount was posted to RESC.  

    Is there something common about these employees - eg using one particular super payroll item which is incorrectly configured - like an EA instead of a SA.  

    Next, could be due to manually entering/changing the amount; paying when $450.00 in the month was not earned?

    You'll need to open the affected pays, delete the super and re-enter it correctly.  Check the amounts of super being calculated.  


    regards,
    John
  • James_8240475
    James_8240475 Member Posts: 29 Novice Member Novice Member
    edited July 2016
    Hi John
    Thanks for the valuable  info.Have managed to sort it out.
    Thanks for your help.
    Regards
    James

  • James_8240475
    James_8240475 Member Posts: 29 Novice Member Novice Member
    edited September 2016
    Hi John

     

    I am trying to do a raise for one employee from 1 Sept 2016.

     

    I got the following response :

     

    “ Unable to save the record. Its effective date  conflicts with existing history record.

       Choose another effective date or update that history record “

     

    How do I fix it ? Thanks

     

    Regards

     

    james

  • Wendy Adams
    Wendy Adams Member Posts: 1 Novice Member Novice Member
    edited July 2017
    Hi John

    I have to do a death benefits ETP for unused annual leave and rdo's to the dependant, what type of tax tracking account do I use.  There is a tax component but nil tax is withheld.

    Regards
    Wendy
  • radha
    radha Member Posts: 5 Novice Member Novice Member

    Hi

    We have set up new payroll item for ETP for in lieu of notice and selected the post June 1983 untaxed element (o).and done the payroll run. However it is not appearing on the payment summary. We are worried whether it will go through in the single touch to ATO correctly. Can you please help.

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