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What STP category is used for Novated Leases

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What STP category is used for Novated Leases

Hi, I am trying to set up a Novated Lease in MYOB Accountright. I am assuming I need to set up two deductions with the pre tax deduction set to PAYG exempt.

 

What Single Touch Payroll Category do I use for the deductions?

 

Thanks in Advance.

 

Jason

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Tracey_H
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Re: What STP category is used for Novated Leases

@CompleteStaff 

 

Hi Jason

 

Generally speaking novated leases would be set up as Salary Sacrifice (employee purchases) in AccountRight. If a salary sacrifice deduction is exempt from FBT it's usually not reportable, however, I would recommend checking with the ATO to make sure you do assign the correct ATO reporting category.

 

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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CompleteStaff
4 Posts
Cover User
Australia
Cover User

4Posts

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Re: What STP category is used for Novated Leases

Hi Tracey,

 

Thankyou for your response. The lease is exempt from FBT and have marked not reportable.

 

Thankyou for your help.

 

Jason

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