Christmas Cash Bonus

mvong8
Contributing Cover User
9 Posts
Contributing Cover User
Australia
Contributing Cover User

9Posts

1Kudos

0Solutions

Solved: Go to Solution

Christmas Cash Bonus

Hi there,

 

My boss has withdrawn $300 cash for each employee for Christmas/end of year bonus.

I assume this will have to be recorded via payroll/STP and add the $300 nett amount to the regular pay, which will then attract higher PAYG and superannuation. Is that correct?

 

Thanks in advance.

2 REPLIES 2
GDay53
Ultimate Partner
2,595 Posts
Ultimate Partner
Australia
Ultimate Partner

2,595Posts

2,378Kudos

569Solutions

Accepted Solution Solved

Re: Christmas Cash Bonus

@mvong8 

 

Welcome to the MYOB Community Forum, I hope you find plenty of useful information.

 

You are correct - Christmas bonus is still part of payroll and must be reported via STP.

If $300 is paid cash then that is the nett amount and will need to be grossed up and have PAYG and Super G'Tee allocated on it.

 

If my response to your query and has helped, please mark my post as a solution to help others in the future.
Graeme Day
Registered BAS Agent #24745540
Gralord Enterprises Pty Ltd
Mobile: 0402 841 627
graemeday@optusnet.com.au
MYOB Certified Consultant
MYOB Diamond Partner
mvong8
Contributing Cover User
9 Posts
Contributing Cover User
Australia
Contributing Cover User

9Posts

1Kudos

0Solutions

Re: Christmas Cash Bonus

Thanks for your help Graeme!

 

Regards.

Didn't find your answer here?

Try using advanced search to find a post more easily Advanced Search
or
Get the conversation started and make a new post Start a Post