how do you gross up RFBA under STP2

Rosemary Harrison
Rosemary Harrison Member Posts: 20 Reckoner Reckoner

we are using salary sacrifice for expense payments and although the amount paid shows on the STP reports this needs to be grossed up when finally reported on the income statement. Do we do this the way we used to through adjusting the YTD amounts before 31/3?

Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,216 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited March 2024

    Hi Rosemary

    Best practice is to add it onto the last Paycheque dated pre-01/04:

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    NOTE: You need to obtain the specific, grossed-up figure from the Tax Agent 😊