Trouble setting up tax rebate for employees

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Fay
Fay Member Posts: 27

I have just purchased 2021 business with payroll. I don't understand what is needed for tax rebate and tax percentage, or where to find this information.

Also I have been using STP app. Is there anyway this information can be transferred over to the business version.

Thanks Fay

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,408 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    Hi Fay

    The Tax Rebate is related to an employee having indicated this on their TFN Declaration Form (which is extremely rare as most employees won’t/don’t)

    The percentage is another that doesn’t occur often but is used when tax is to be calculated at a specific percentage rate (eg for Working Holiday Makers or if an employee wishes to have additional tax deducted at a particular percentage)

    Generally, you only need to select the applicable tax code on the employee record & tax will be automatically calculated as per the ATO tax tables accordingly.

    If you’ve been using the STP App, you need to zero out the balances for that (access via the web page online) & enter YTD figures per employee in your new, current RA program to ensure submitted amounts are updated correctly going forward.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)