Hello, What is the best way to set up Directors Fees as a new payroll item? How do you set this up so it records on the PAYG Payment Summary correctly, as the ATO says that this should be shown at Item 2 on your individual Tax Return.
Set them up the same way you would for regular salaries - i.e. deduct PAYG, pay sup'n, attract payroll tax etc. Just allocate them to a separate account line "Directors Fees" so that they are easily identifiable on your P&L