I have an employee who wishes to have their mortgage repayments (deducted as FBT salary sacrifice) into their mortgage offset account, instead of directly into the loan account.
Is this possible, or is the offset account treated as a transactional account and would need to be processed as taxable salary & wages?
My predecessors have advised employees that it can be done, but only to the value of the mortgage repayments and no more. As an employer, do we have a responsibility to ensure every account we deposit into is correct, or is this on the employee and ATO to reconcile?
Thanks
4,330 views
4,330 views2 replies
2 replies
4,330 views
2 replies