RFBA - end of year process

Hello

We're a registered charity and are FBT exempt.  

We provide Salary Sacrifice arrangements for part of the salary of 5 employees.  These salary sacrifice payments are marked as "not reportable" in MYOB as we have been advised by our accountants that:

• If you cannot (or choose not to) provide RFBA or RESC through STP, you must provide this information on a payment summary and provide us with a payment summary annual report. The payment summary must not include amounts reported through STP.

Historically we have used an external payroll provider who has submitted annual payment summaries to the ATO on our behalf. This coming year 19/20 will be the first year of us processing payroll ourselves and we are running using STP as required. 

Rather that reporting the RFBA via payment summaries, I think the attached MYOB instructions are saying that we can do it as a single EOFY STP pay event?  Am I understanding this correctly?  

1. Go to the Payroll command centre and click Payroll Reporting.
2. Click Payroll Reporting Centre.
3. Click the EOFY Finalisation tab.
4. For each employee with fringe benefit amounts:
   1. Click the ellipsis  button for the employee and choose Enter RFBA.
   2. Enter in both the:
      • Reportable fringe benefits amount $
      • Reportable fringe benefits amount exempt from FBT under section 57A $. The combined value of these must be above the thresholds set by the ATO.
   3. Click Add amounts.

5. Select each employee you want to finalise, then click Set as Final.

6. Enter your name and click Send.

Thanks

Lani