Medicare Levy field

System
System Member Posts: 225 Moderator Moderator
This discussion was created from comments split from: Income Type & Migration.

Comments

  • Rachael Bonello
    Rachael Bonello Member Posts: 37 โœญ

    Rav what do we put in medicare levy field?

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,072 Community Manager Community Manager

    Hi @Rachael Bonello

    You only need to make a selection for either the Medicare Levy Surcharge or Medicare Levy Reduction fields if you have employees who are actively claiming either one of those. If you don't have any employees that are subject to it then don't make any selections for it.

    There's more info on both the Medicare Levy Surcharge and Medicare Levy Reduction for STP Phase 2 in the help guides below -



  • Rachael Bonello
    Rachael Bonello Member Posts: 37 โœญ

    thankyou, ive done all the boxes and then clicked next then submitted final migration, is there anything i missed?

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,072 Community Manager Community Manager

    @Rachael Bonello after you've entered in all the required information in the Migration Assistant make sure you do the second step which is to *complete* it so that info is imported into your file.

    There's info on this toward the end of the STP Phase 2 Migration Assistant how-to video which I'll link below ๐Ÿ‘‡


  • blairmuller
    blairmuller Member Posts: 32 โœญ

    Hi @Rav,

    Can we leave those blank and let it be delt with at Tax time by the employee? Or will I need to got each employee and get them to determine if they they need to pay and at what level?

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,169 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    @blairmuller As per the info above, the fields can be left blank if not known or not applicable

    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 *

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    Ballajura, WA

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    (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!)
  • blairmuller
    blairmuller Member Posts: 32 โœญ

    Thanks a Million. If I do select them, does with with hold any tax? Or does it just report that information to the government?

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,072 Community Manager Community Manager

    Morning @blairmuller

    The Medicare Levy Surcharge and Medicare Levy Reduction (number of dependents field) is used for reporting only and is another component in the generation of the new tax treatment code in STP Phase 2. It does not have an impact on calculations.