ATO reporting category to link in Account Right to the wage category "Fringe Benefit" ?

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ATO reporting category to link in Account Right to the wage category "Fringe Benefit" ?

Hi - I am making payments to employees in their pays that include exempt fringe benefit payments. Currently I can't find an appropriate ATO reporting category in AccountRight to link the "Fringe Benefit"category to.

 

Ideally, every time I enter an amount in the "Fringe Benefit"wage category I would like it to be grossed up (using the current ATO calculation) and reported to ATO via STP, so they will appear in the employees annual payment summary at the end of the financial year, appropriately. These are exempt fringe benefits because the totals once grossed up, will fall within the exempt fringe benefits category for the ATO, (and because we are a Public Benevolent Institution). This algorithm will need to take into account the fringe benefit year running from 1 April to 31 March each year - and so the amount entered in the EOFY Payment Summary is the 12 month total as at 31 March that year.

 

Is there a solution for this (besides linking the Fringe Benefit wage category to the "Not reportable"ATO category and entering it manually somehow at the end of the financial year?

 

Thank you

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Re: ATO reporting category to link in Account Right to the wage category "Fringe Benefit" ?

Hi @wspencer 

 

Thanks for your post. Reportable Fringe Benefits Amounts (RFBA) and RFBA's that are covered by Section 57A are reported through STP when finalising employees at the end of the financial year. This is done in the Payroll Reporting Centre>>EOFY Finalisation tab>>Enter RFBA and entering the amounts in the relevant field.

 

These help artcles have more information on reporting RFBA through STP:

Reportable fringe benefits amounts with STP 

End of year finalisation with STP 

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Cheers,
Tracey
Previously @bungy15

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