Voluntary Withholding Agreements

Srod
Srod Member Posts: 1 Novice Member Novice Member
in Reckon Payroll

Does Reckon have the ability to lodge contractor payments who have signed a voluntary withholding agreement through STP?

And can it generate the “Business & Personal Services Income” Payment Summaries at the end of the financial year?

Answers

  • Lucas
    Lucas Reckon Staff Posts: 563 Reckon Staff Reckon Staff
    edited December 4

    Hi @Srod,

    I'm not particularly familiar in this area, but we do have an option to add a voluntary flat rate and the income type would fall under voluntary agreement:

    image.png

    Could you let me know, if that's what you mean?

    You can find this under the employee wizard, when you click edit details in an employees record and go to the tax section. Select the tax scale as Voluntary flat rate, enter the flat rate, if using Commissioner's instalment rate (CIR) etc.

    Note: It will also REQUIRE a ABN, which you can enter under the TFN text box.

    Let me know if this helps.

    Lucas.png

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