STP phase 2 RFBA

Anthony_10861832
Anthony_10861832 Member Posts: 13 Reckoner Reckoner

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

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  • Acctd4
    Acctd4 Accredited Partner Posts: 3,790 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    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.

    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!)