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pjhook's avatar
pjhook
User
15 days ago

STP - Novated Leasing Post Tax Deductions

02 July 2024 - 2.38 PM AEST

Hello all,

We have employees that does Novated Leasing with a third party provider. Therefore, their pay consists of Pre-Tax and Post-Tax deductions. I have read in ATO - STP, that post tax deductions does not need to be reported (not unless its union fees or workplace giving).

 

Does this mean post tax deduction relevant to novated lease is not reportable?

 

Thank you in advance for the response!

 

1 Reply

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  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    15 days ago

    Hi there pjhook

     

    When it comes to novated leasing and the specifics of what needs reporting, it's a bit tricky. I can't confirm whether post-tax deductions related to novated leases are reportable or not. Your best bet would be to speak with your accountant or financial advisor—they'll have the latest on what needs to be reported to stay compliant. You can also check this link for more information regarding Novated Lease. If you have any other questions, just give us a shout!

     

    Best regards,

    Doreen