Hi, How do I account for the difference between LAFHA liability and the lesser FBT paid due to exemp
Jayne_10085189
Member Posts: 17 ✭
Hi, I
have three employees receiving a LAFHA. One has exceeded the 12 months exemption time during this FBT year. I calculated the FBT return and created the special pay run before 31 March for this employee. However, the amount of FBT liability is less than this due to the amount of exemption deducted from the FBT Liability. How do I account for the difference? I have followed John Graetz’s previous advice for setting up payroll items and creating a special pay run before 31 March.
have three employees receiving a LAFHA. One has exceeded the 12 months exemption time during this FBT year. I calculated the FBT return and created the special pay run before 31 March for this employee. However, the amount of FBT liability is less than this due to the amount of exemption deducted from the FBT Liability. How do I account for the difference? I have followed John Graetz’s previous advice for setting up payroll items and creating a special pay run before 31 March.
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Comments
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Hi Jayne. I think that your question is getting too difficult to answer in this forum, particularly as it seems to involve tax issues. Do you have an Accountant that you can refer your question to? Give me a ring on 0428 695454 and I might be able to help some more.
John L G
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Hi John, I worked out where I was going wrong, thanks. I was using the aggregate amount instead of the tax payable amount. I have another problem now. Do I put it in a new post?
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Happy for you to ring me, Jayne.
John L G
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