Forum Discussion

MRAK's avatar
MRAK
Member
1 year ago
Solved

ERROR when finalising STP for RFBA

Hi there - i know this has popped up a few times.   I'm trying to finalise an employee that has a reportable FTB amount. the amount is $3684.35 which is above the $2k ATO threshold.   I am receiv...
Sean_N's avatar
Sean_N
MYOB Staff
1 year ago

Hi MRAK, 

 

Thanks for posting on our Community Forum. 

 

When finalising an employee with an RFBA for Single Touch Payroll, you would usually enter the grossed-up taxable value of the benefit. This is stated on the following support article: Reportable fringe benefit amounts (RFBA) with Single Touch Payroll reporting (myob.com) (http://help.myob.com/wiki/x/DKlqAg)

 

As per the ATO website, the minimum grossed-up value is showing as $3,773 for the 2024 financial year. Fringe benefits tax – rates and thresholds | Australian Taxation Office (ato.gov.au) (https://www.ato.gov.au/tax-rates-and-codes/fringe-benefits-tax-rates-and-thresholds#Reportable_fringe_benefits)

Any amount lower than this cannot be entered when finalising the employee. If you have any questions regarding how to report a lower amount, please seek advice from the ATO. 

 

Kind Regards, 

Sean

  • MRAK's avatar
    MRAK
    Member
    1 year ago

    Thank you! have read and corrected my misunderstanding!

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Level up your skills using MYOB software.

 

Find help guides and technical solutions for all MYOB products here

Explore video tutorials for our software at the MYOB Academy here

 

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.