Hi, How do I account for the difference between LAFHA liability and the lesser FBT paid due to exemp

Jayne_10085189
Jayne_10085189 Member Posts: 17
edited July 2020 in Accounts Hosted
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.

Comments

  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited July 2020
    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
  • Jayne_10085189
    Jayne_10085189 Member Posts: 17
    edited July 2020
    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?

  • John Graetz
    John Graetz Member Posts: 1,651 ✭✭✭
    edited June 2019
    Happy for you to ring me, Jayne.

    John L G