STP Phase 2 - Salary sacrifice (SS)

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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

Answers

  • Rav
    Rav Administrator, Reckon Staff Posts: 15,680 Community Manager Community Manager
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    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 👇

    ℹ️ Stay up to date with important news & announcements for your Reckon software! Click HERE for more info.

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,482 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
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    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!) 😊

    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!)