How do you set up pay items for salary sacrifice taht is not super so it shows up on the payment sum

Glynis Myers
Glynis Myers Member Posts: 2
edited September 2019 in Accounts Hosted
Exempt FBT salary sacrifice not showing on payment summary

Comments

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,366 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert
    edited September 2019

    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

    shazinoz2@bigpond.com

    www.accounted4bs.com

    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!)