Thank you for visiting our Partner Zone. This area is an exclusive space for MYOB Partners. Find out how to Partner with MYOB.
November 2022
November 2022
We have an employee to whom we are reimbursing his monthly telephone account. I am aware that this reimbursment may be subject to FBT if more than $2000 per year paid to employee. (FT year April-March)
I have a supplier card in the employee name and recording the purchase and reimbursing him.
Is this correct?
I cannot work out another way to record 'reimbursement' to employee that may be subject to FBT.
I can't see how it would go via payroll - although I do know that I need to manually add any grossed up amount into the EYO payroll Reporting area.
Everything I search/google refers only to paying any FBT liability....
If someone can point me in the right direction much appreciated.
thanks
December 2022
December 2022
Hi @Retrac
Thank you for your post. In regards to how much FBT to add to the purchase, we would highly recommend that you consult your accountant or the ATO regarding the way to calculate it; so that you are meeting all your tax obligations in this situation.
Once you've done so, if you have any queries regarding how to record it in the software, we'd be more than happy to assist.
If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.
0
|
288
|
|||
4
|
15029
|
|||
by
ballens
February 2023
0
715
|
0
|
715
|
||
10
|
1731
|
|||
11
|
2395
|