Forum Discussion

Jlee's avatar
Jlee
Experienced Cover User
4 years ago
Solved

Car allowance

Hi myob community One of our employee's is being given a set $13K gross per annum car allowance ($250 weekly) He is on a salary. ...On the ATO website $0.72/km up to 5000km is Tax Free which equals...
  • Tracey_H's avatar
    Tracey_H
    4 years ago

    Hi Jlee 

     

    Thanks for your post. From an AccountRight perspective this help article has step-by-step instructions on how to set up an Allowance: Allowances

     

    Payroll categories are reported through STP according to the ATO reporting category selected. This help article will assist with selecting the correct ATO reporting category when creating the Allowance payroll category: Assign ATO reporting categories

     

    When is comes to PAYG Withholding on the car allowance you will need to speak to your accountant or the ATO to make sure you are withholding the correct amount.

     

    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.

     

Tracey_H's avatar
Tracey_H
Former Staff
4 years ago

Hi Jlee 

 

Thanks for your post. From an AccountRight perspective this help article has step-by-step instructions on how to set up an Allowance: Allowances

 

Payroll categories are reported through STP according to the ATO reporting category selected. This help article will assist with selecting the correct ATO reporting category when creating the Allowance payroll category: Assign ATO reporting categories

 

When is comes to PAYG Withholding on the car allowance you will need to speak to your accountant or the ATO to make sure you are withholding the correct amount.

 

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.