How do you set up pay items for salary sacrifice taht is not super so it shows up on the payment summary as exempt FBT

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Exempt FBT salary sacrifice not showing on payment summary
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Glynis Myers

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Posted 1 month ago

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Hi Glynis

 

This will be a “Reportable Fringe Benefit”.  Are you sure it is exempt?  Fringe Benefit Exemption status applies to certain religious & non-profit employers only.

  

RFBs need to be added on to an employee’s pay in RA/RAH - so you will need to unlock a Pay & add this Payroll Item & its grossed-up value - within the applicable FBT year (Apr-Mar) in order for it to appear on their Payment Summary in the relevant Financial Year (Jul-Jun)

 

You just need to setup an Company Contribution-type Payroll Item & link it to the “Reportable Fringe Benefits (Tax Exempt)” (if applicable) option from the dropdown on the Tax Tracking Type screen.  It should be ticked for Payroll Tax (in WA, not sure about other states) but not PAYGW & doesn’t need to be linked to any other Payroll Items on the final Inclusions screen.

 

Shaz Hughes Dip(Fin) ACQ NSW, MICB

Reckon Accredited Professional Partner Bookkeeper / Registered BAS Agent (No: 92314 015)

Accounted 4 Bookkeeping Services

Ballajura, WA

0422 886 003

shazinoz2@bigpond.com

www.accounted4bs.com

(Edited)