Allowances Explained (Pay Types)
May 13, 2024
992
🎯 Please refer to the ATO for Allowance guidance.
There are 3 steps you should follow to work out how to report allowances in STP Phase 2:
- Identify whether the amount is a reportable allowance.
- Identify whether the allowance needs to be disaggregated.
- Identify the purpose of the allowance.
e-PayDay Go is designed to meet the ATO and Fair Work requirements, offering customisable settings to ensure compliance.
The Allowance Record contains three sections:
- Allowance Details - allows the entry of the Description, $ or %, etc.
- Taxation - contains the specific STP reporting rules.
- Superannuation - determines if OTE (Ordinary Time Earnings).
