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July 2022
July 2022
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
July 2022
July 2022
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.
Cheers,
Tracey
Previously @bungy15
MYOB Community Support
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