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ccg's avatar
ccg
Contributing Cover User
2 years ago

correct ato reporting category allocation for genuine termination payments STP phase 2

I am on stp phase 2 and would love some clarification on linking ato reporting categories for a genuine redundancy lump sum payment with the following components:

 

Termination Severance - (if entire amount is below taxable threshold) should it be linked to:

 ATO Reporting category - Lump sum D 

or ATO Reporting category - ETP tax free comoponent

Unused leave - should it be linked to:

ATO Reporting Category - Lump sum A - Redundancy

or ATO Reporting category - ETP taxable component

Tax on unused leave - should it be linked to:

payg withholding - under tax tab

or termination pay tax - ETP - Tax Witholidng - under deductions tab

 

 

 

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  • Tracey_H's avatar
    Tracey_H
    Former Staff
    2 years ago

    Hi ccg 

     

    Thanks for your post. We're not permitted to advise on which ATO reporting categories to assign to payments. You will to check this with your accountant or the ATO.

     

    The Help Article, Assign ATO reporting categories, has general information and links to the ATO website.

     

    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.