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sarah1987's avatar
sarah1987
Cover User
2 years ago

Salary sacrifice for an electric vehicle through a novated lease agreement

I have set up a pre tax salary sacrifice for a novated lease agreement one of our employees has entered into. 

 

I have deducted the lease amount from him as per instructions from our leasing company. As it's an eletcric vehicle then it's not subject to FBT so I selected the ATO reporting category as not reportable, however I have since been informed that this still needs to show on my employees EOFY payment summary.

 

Do I need to change this to Salary Sacrifice - other employee benefits from the drop down or is it correct to be not reportable?

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    2 years ago

    Hi, sarah1987 

     

    Thanks for your post.

     

    If you have been advised that the category will need to be reported, we recommend speaking with your accountant to confirm or getting in touch with the ATO. You may also check The Help Article: Assign ATO reporting categories for Single Touch Payroll reporting for further information when assigning an ATO reporting category.

     

    Please feel free to reach out if further assistance is needed.

     

    Best regards,

    Doreen

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    2 years ago

    Hi, sarah1987 

     

    Please let us know if you still require any further assistance with your concern. Don't hesitate to reach out to us. We are happy to assist you.

     

    Best regards,

    Doreen

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