STP Finalisation 2023 - Salary Packaging/Sacrifice Deductions not reducing Gross YTD in EOFY fin ...

Question

alisation tab

Hi,

Can I confirm for 2023 that amounts showing in the 'Gross YTD' column in the 'EOFY finalisation' tab are no longer reduced for Salary Sacrifice before tax deductions. The amounts notated as 'Salary sacrifice - other employee benefits' can be viewed by clicking the three dots for each employee's Summary of  Payments so they have been recorded. Am I right to assume that the reduction will be done at the ATO end and that the Gross wages for each respective employee's income statement will be shown correctly in their MyGov account (i.e. net of salary sacrifice)

Thanks

PJC

Princess_R · Answer

Hi @gavin12345

Thank you for sharing your thoughts and detailed information about the salary sacrificed. We really appreciate you taking time to share your ideas. Rest assured that this is noted.

Cheers,

Princess

gavin12345 · Answer

Hi @Doreen_P

Perhaps 'if the employee was paid a total of $87,600 and the salary sacrificed amount is $10,000' could be clearer to avoid further confusion. 'Paid' can be interpreted as this was paid to the employee, when in fact it was not.

Something like 'if the employee was entitled to a total of $87,600 of which they salary sacrificed $10,000 into super, and were paid $77,600 after the salary sacrifice...'

Just a thought

Gavin

Doreen_P · Answer

Hi, @PJC

Thanks for your post.

What you can see on your end is correct. If processed correctly the salary sacrifice amount will show next to Salary sacrifice (RESC). For example, if the employee was paid a total of $87,600 and the salary sacrificed amount is $10,000 then the Gross payments would show $87,600 and the Salary sacrifice (RESC) would show $10,000. Please refer to the screenshot below.

Please let me know if you need further assistance with this. We are happy to assist.

Best regards,

Doreen