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Tax not calculating correctly with a Salary Sacrifice deduction
I have set up a new employee identical to others, but the tax is calculating on the full gross, rather than the reduced gross after the salary sacrifice. Is there something new I have to do that is preventing this for this one employee? Or is there a report I can run to show the back end links to see where this employyee set up differs from the others? Help appreciated. Pay run is tomorrow.Solved236Views0likes2CommentsAdditional HECS/HELP deduction
Hi there. I need assistance on the treatment of an additional HECS deduction request by a new employee. We are a not for profit and offer salary sacrifice to our employees. As a result, even though I have chosen the correct ATO rate to include the PAYG +STSL, the tax will be calculated on the lower Gross after salary sacrifice, but the HELP debt will be assessed on the Gross including the salary sacrifice. To avoid an end of year tax payment to the ATO , the new employee wants a set amount deducted from her fortnightly pay. I have set up a new deduction category and called it HELP debt. My questions are: 1. Am I correct in allocating this to the ATO reporting category - Not Reportable? 2. Am I correct in treating it as EXEMPT from PAYG - as it is additional PAYG? 3. When and how do I pay it to the ATO? 4. Do I need to show it on my IAS/BAS? Thank you.Solved1.7KViews0likes3Comments
