Set up of Novated Lease

[kbell16]

Hi,   Just have an employee who has just signed a Novated Lease and need assistance with how to set up in Accountright.    

I have a Pre Tax and Post Tax amount .   

Of what I have read I go into " Deductions " and create two deductions one Pre and one Post .   

What ATO Reporting Category do I use ?

What ATO Reporting Category Phase 2 do I use ?

Deduction Information,  where can you click exempt from payg withholding ?   

Apologies but haven't done a Novated lease set up before.    I have enquired with Accountant and also doesn't have clients with Novated lease plus using Xero. 

Thanks

[Tracey_H]

Hi @kbell16 

Thanks for your post. If you're unsure about the ATO reporting category to assign you will need to check with the ATO. 

To exempt the deduction from PAYG withholding click on Exempt and tick PAYG withtholding.

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.