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Freedomcare's avatar
Freedomcare
Experienced Cover User
3 years ago

STP REPORTING PHASE 2 RFBA SECT 57 WAGES

I have now registered to Phase 2 Reporting, and getting error messages with reference to Minus(-) balances in the Gross Field.

Wages under the RFBA are input as Deductions and are Negative in Manner.

The Gross amount of wages are split under Base Hourly (Wages and Salary) and Fringe Benefits below threshold (Wages and Salary)

The DEDUCTION TRANSACTION for the RFBA has to be processed as a negative amount (LIABILITY)

 

What ATO Reporting Category does the Deduction allocate to, (Salary Sacrifice-Other Employee Benefits ??????)

 

and where does the Fringe Benefit Below the Threshold allocated to ?--It is a Tax Free component.  The only option in the Wages is the ETP -Tax Free Component. Is this Correct????

At Present I have allocate it Wages and salary.

 

 

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  • Freedomcare's avatar
    Freedomcare
    Experienced Cover User
    3 years ago

    I have located the MYOB link to RFBA Sect 57 wages

    Reportable fringe benefits amounts (RFBA) with Single Touch Payroll reporting - MYOB AccountRight - MYOB Help Centre

    This is fine and I am aware that these are done at the end of the Financial Year,

     

    As a Non for Profit Organiztion, I divide the yearly amount by 52 to represent the weekly portion  of the total amount

    This amount is categorized as an expense, as is Minus in the Payrun.

    Under Phase 1,  I did not need to assign this deduction weekly, as I reported it end of year.

    I just need instruction on the Phase II option.

    At present it is not assigned under the decuction category.

    Is this correct?

  • Tracey_H's avatar
    Tracey_H
    Former Staff
    3 years ago

    Hi Freedomcare 

     

    Sorry to see that no one has replied to you yet. We're not permitted to advise on which ATO reporting category to assign to payroll categories. If you're not sure how these amounts need to be reported you will need to check with your accountant or the ATO.

     

    In the Help Article, RFBA with STP, there's a section with information on reporting RFBA when you're set up for STP Phase 2. If you need specific information you will need to speak to the ATO or your accountant.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.