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Single Touch Payroll

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Newbie

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Hi, I employ 4 people so have been looking at STP in prep for next year.

My software provider has STP in the latest updates.

However the entry of super payments is restricted to Super Guarantee and salary sacrafice amounts.

My problem is that being a family business I pay the employees (family) above award, not a specific %,

but amounts just rounded up. Not salary sacrafice.

I understand that the SG amounts will be entered into PAYG and group certs by the ATO automatically.

Will there be a way for me to add in the extra amounts (that go in the reportable super on group

certs now) so all will be correct at the end of the year?

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Most helpful response

Devotee Registered Tax Practitioner

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For most software that we are aware of the same end of year process will exist.

That process for preparation of payment summaries included an ability to add the amount of RESC.

So when you get to the end of the year and you are preparing to "Finalise" the payroll infomration to the ATO you will add the RESC (Reportable employer super) and maybe RFBA (Fringe Benefits).

It is all the same end of year process.  You need to check the Final infomration is correct and able to be used for tax return purposes.

 

www.icb.org.au/stp

1 REPLY 1

Most helpful response

Devotee Registered Tax Practitioner

Replies 0

For most software that we are aware of the same end of year process will exist.

That process for preparation of payment summaries included an ability to add the amount of RESC.

So when you get to the end of the year and you are preparing to "Finalise" the payroll infomration to the ATO you will add the RESC (Reportable employer super) and maybe RFBA (Fringe Benefits).

It is all the same end of year process.  You need to check the Final infomration is correct and able to be used for tax return purposes.

 

www.icb.org.au/stp