Gross wages | RESC | Salary Sacrifice

Kali
Kali Member Posts: 384 Reckon Star Reckon Star
edited June 2024 in Reckon Payroll

Hi Rav,

Under STP2, should an employee's salary sacrifice super amount also be included in the gross pay column on the EOFY report?

Take the below employee for example. They salary sacrificed $1,300.00 of their super contributions throughout the year. This $1,300 is showing under 3 columns on the EOFY report.

  1. Gross pay
  2. RESC
  3. Salary Sacrifice
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Is this correct? Understand 2 & 3 but the whole idea of salary sacrificing is to reduce one's taxable income so just want to make sure reporting like this won't report it twice.

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Best Answer

  • Rav
    Rav Administrator, Reckon Staff Posts: 16,664 Reckon Community Manager Community Manager
    Answer ✓

    Hi @Kali

    Don't worry, you're not reporting it twice. Under STP Phase 2, the ATO want to see the total gross as is ie. prior to any before-tax deductions.

Answers

  • Kali
    Kali Member Posts: 384 Reckon Star Reckon Star

    Thanks for confirming Rav.

    Out of interest why is gross & PAYG left blank here after successful submission. I'm on the compliance page:

    image.png

  • Rav
    Rav Administrator, Reckon Staff Posts: 16,664 Reckon Community Manager Community Manager

    Good question Kali.

    The reason for that is because an EOFY finalisation is an update event-type submission (albeit a special update event-type submission).

    There is no employer component to update event submissions which is why those fields are appearing blank. Instead they update employee data only and in the case of an EOFY finalisation submission specifically, it also carries a flag that marks it as the final submission of the year which will switch the employee to Tax Ready status.

    I'm guessing there is a reason for it but I'm not entirely sure why we're displaying those fields in that specific spot on the compliance page but I'll speak with the product team about it.

  • Kali
    Kali Member Posts: 384 Reckon Star Reckon Star

    Thanks for the clarification Rav.

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