STP phase 2 RFBA

Anthony_10861832

Hi

I am trying to update my (Reckon Accounts Hosted) payroll for an employee who has a novated lease. We are deducting an amount per month pre tax, and showing the deduction in STP correctly (deduction type O), but I need to report the RFBA amount. I think I do this via the "payroll setup - YTD amounts" section. I have created a payroll item called Reportable Fringe Benefits, with tax tracking of "Reportable Fringe Benefits", and have entered an amount in the YTD amounts screen. I have then generated a STP file and loaded into GovConnect, and the new line is appearing in my STP submission like this:

I am wanting to confirm if the "type T" is correct. I have tried to work out what type T is but haven't been able to find anything on the ATO with a list of "other payment type codes". Any input or insights appreciated

Thanks

Anthony

Tanvi_kataria

Hi @Anthony_10861832

Thank you for reaching out.

Please find the attached article for your reference - STP Phase 2 - Payment type codes in Reckon Accounts - Reckon Help and Support Centre. I hope this will help you with all your queries. Feel free to let us know for any concerns. Thank you!

Regards

Tanvi

Acctd4

Hi @Anthony_10861832

The RFB amount is determined by the tax agent when they complete the annual FBT return - It is NOT the same value as the benefit the employee has received (it gets grossed up by a multiplier, depending on benefit's GST status) Therefore, this Payroll Item & applicable amount should only be manually added to the last Paycheque of the FBT year (eg pre-April) as per tax agent's advice.