Changing income type STP Phase 2
I have a client who owns the business but also pays himself through Payroll as an employee. I originally thought he would be classed as a Closely Held Payee, however, because he is paid every for...
Forum Discussion
Hi BreeDeCunha
A Closely Help Payee (CHP) is almost always a Salary and Wages Payee (SAW) as well. Specifying them as CHP can qualify for some concessional treatment (frequency of reporting, due dates etc). However these concessions can be meaningless if they also have other arms length employees they need to report on anyway. So use CHP or SAW and whatever you specify on the employee's card, this is what MYOB will send to the ATO.
Suggest you check this with your accountant or tax adviser. I would also check your first statement, depending on what business structure is used (sole trader/partnership/company etc) to ensure accountant is aware.
Regards
Gavin
Thanks so much for your help Gavin.
Does MYOB have anything to contribute to this??????
Hi BreeDeCunha
On the Community Forum we encourage users to provide advice and assistance, as such, you won't always receive a reply from an MYOB Moderator.
As advised by gavin12345 you just need to ensure you have selected the correct Income Type in the employee card. If you change the Income Type, this will be updated with the ATO when you send the next STP report.
Please let us know if you need further help.
