This will be a “Reportable Fringe Benefit”. Are you sure it is exempt? Fringe Benefit Exemption status applies to certain religious & non-profit employers only.
RFBs need to be added on to an employee’s pay in RA/RAH - so you will need to unlock a Pay & add this Payroll Item & its grossed-up value - within the applicable FBT year (Apr-Mar) in order for it to appear on their Payment Summary in the relevant Financial Year (Jul-Jun)
You just need to setup an Company Contribution-type Payroll Item & link it to the “Reportable Fringe Benefits (Tax Exempt)” (if applicable) option from the dropdown on the Tax Tracking Type screen. It should be ticked for Payroll Tax (in WA, not sure about other states) but not PAYGW & doesn’t need to be linked to any other Payroll Items on the final Inclusions screen.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Glynis Myers
Member Posts: 2 ✭
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Hi Glynis
This will be a “Reportable Fringe Benefit”. Are you sure it is exempt? Fringe Benefit Exemption status applies to certain religious & non-profit employers only.
RFBs need to be added on to an employee’s pay in RA/RAH - so you will need to unlock a Pay & add this Payroll Item & its grossed-up value - within the applicable FBT year (Apr-Mar) in order for it to appear on their Payment Summary in the relevant Financial Year (Jul-Jun)
You just need to setup an Company Contribution-type Payroll Item & link it to the “Reportable Fringe Benefits (Tax Exempt)” (if applicable) option from the dropdown on the Tax Tracking Type screen. It should be ticked for Payroll Tax (in WA, not sure about other states) but not PAYGW & doesn’t need to be linked to any other Payroll Items on the final Inclusions screen.
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
[email protected]
www.accounted4bs.com
Shaz Hughes Dip(Fin) ACQ NSW, MICB
Reckon Accredited Partner (AP) Bookkeeper * Regd BAS Agent (No: 92314 015) *
ICB-Certified Bookkeeper * Seasonal Tax Consultant since 2003
Accounted 4 Bookkeeping Services
Ballajura, WA
0422 886 003
[email protected]
https://www.accounted4bs.com/