Salary sacrifice in STP Phase 2

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This discussion was created from comments split from: 🚨 IMPORTANT info for Reckon Accounts 2023 Desktop - Bug Fixes ✅.

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  • amber_10865555
    amber_10865555 Member Posts: 10 ✭

    I hope ok to post this question here... No 1 does not make sense - Salary Sacrifice from Super to Super ?? Can you please clarify for me. Cheerz, Amber

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,169 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 29

    Hi Amber

    I think it’s just the way it’s been grammatically worded.

    Salary Sacrifice (SS) is where an employee sacrifices part of their gross earnings elsewhere or for an alternate benefit, in order to reduce their PAYG tax.

    There are 2 types of SS options in RA … the 1st option refers to sacrificing to Super & the other is for anything else (eg Car, Phone, Laptop, School Fees, Mortgage etc) ☺️

    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

    [email protected]

    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!)
  • amber_10865555
    amber_10865555 Member Posts: 10 ✭

    @Shaz Thanks so much! It should say 'to' super or 'for' benefits.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,169 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited August 30

    Yep, that’s exactly what it should say 🤦🏻‍♀️☺️

    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

    [email protected]

    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!)