Recording Closely Held Employees
My husband, son and myself are all on our normal payroll, including a young casual who works weekends and school holidays. Do I have to now reclassify the 3 family members as Closely Held Employees or can I leave things as they are? We are all paid at the same time, our super is paid at the same time, so I don't understand why things need to change and, if they do, how difficult is it going to be?
Answers
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There is a specific income type for Closely Held Employees under STP Phase 2.
You'll be able to designate this in the Migration Assistant when you're updating your employee and pay item information to phase 2 requirements.
I'll add a couple of resources below 👇
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If you’re wages are all normal with no concessions based on closely held employees just leave things as they are
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Yes, was just going to say this @Kris_Williams ☺️
The CHP allocation is specifically only for those already with a CHP deferral in place.
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thanks Kris & Shaz for answering my question. Much appreciated
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