Deduction of Novated lease for pre-tax and post-tax.

Question

Hi there,

I'd ask for help to set up for the Novated lease with pre-tax and post-tax in payroll. These both tax needs to be deducted from the gross pay. Also how to report them in STP report-reportable or Not reportable? How about the BAS report?

I've been usine AccuntsRight Plus.

Thank you very much for the help.

Sherry

recent_0519 · Answer

Thank you Samara.

There is no Post-Tax setting for Novated lease in MYOB.

I've contacted MYOB support team and said to me that there is NO opetion for the POST-TAX setting with MYOB.

Sherry

SamaraM · Answer

@recent_0519

Hi Sherry,

In regards to reporting deductions for STP and BAS, we would highly recommend that you consult your accountant or the ATO regarding the best way to record these transactions and to ensure you are meeting all your tax obligations in this situation. Once you've done so, if you have any queries regarding how to set it up / record these in the software, we'd be more than happy to assist.

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