STP Phase 2 - Salary sacrifice (SS)

CherylIlling
CherylIlling Member Posts: 2 Novice Member Novice Member
in Reckon Accounts (Desktop)

Hi team,

I cant find my printout from the webinar I attended when upgrading to STP2 regarding setting up the payroll items after searching through everything I've owned for the last 5 years…..

I have employees wanting to salary sacrifice super before EOFY and I'm wanting to confirm I have some details right.

Tax tracking type: Salary sacrifice Super (S)

Taxes: None ticked

Calculate based on quantity: Blank

Gross v's net: Gross

Default rate and limit: Blank (not based on a limit - its a one-off)

Include payments in contribution: None ticked

Does this sound correct?

Cheers, Cheryl

Best Answers

  • Rav
    Rav Administrator, Reckon Staff Posts: 14,209 Reckon Community Manager Community Manager
    Answer ✓

    Hi Cheryl

    The only change to the super salary sacrifice item is the new Salary Sacrifice Super (S) tax tracking type introduced for it in STP Phase 2. From your info above it looks like you've already updated the item with the new tax type 🙂

    A little more info on this here 👇

    https://help.reckon.com/article/12kbjcx6g4-stp-phase-2-tax-tracking-type-changes#salary_sacrifice
  • Acctd4
    Acctd4 Accredited Partner Posts: 4,208 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    Answer ✓

    Hi Cheryl

    Taxes both need to both be TICKED - If PAYG Tax is not ticked, it won't work as it won't reduce the PAYG calculation & the State Tax should be ticked as SS is included for Payroll Tax.

    NOTE: Ticking PAYG Tax doesn't always relate to "taxing" a Payroll Item, it just means PAYG tax should be affected (in this case, reduced!) 😊

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Answers

  • CherylIlling
    CherylIlling Member Posts: 2 Novice Member Novice Member

    Thank you both for your help, that makes complete sense.

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