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🎯 Taxation is the first section within the Taxation and Medicare Details Accordion, and is used to define the Payee's Taxation Classification for payments. With STP Phase 2, these details are also included in all relevant Submissions.
Tax Treatment Regular is applicable when the Payee is An Australian resident for tax purposes, has provided a valid Tax File Number or using a relevant Exemption Tax File Number per the Tax File Number Declaration (NAT 3092).
Tax Treatment Code is disabled and automatically generates a unique Identifier based on the ATO's requirements, which determines the applicable ATO Taxation Schedule for the appropriate Pay Rates, Allowances and Deductions.
If the first two identifiers are
- RT, PAYGW is calculated per Schedule 1, Scale 2
- RN: PAYGW is calculated per Schedule 1, Scale 1
If the fourth identifier is
- F: PAYGW is calculated per Schedule 1, Scale 5
- H: PAYGW is calculated per Schedule 1, Scale 6
Income Stream defaults to Salary and Wages and allows you to select Closely Held Payee if required (an individual who is directly related to the entity from which they receive payment).
Add to Tax allows you to define the set dollar amount or the percentage of the Total Gross to be added to PAYGW in Process (Step 3 of the Pay Run).
Tax Free Threshold assists in determining the applicable Tax Scale under Schedule 1.
Student and Training Support Loans (STSL) is used to define that the Payee has returned the relevant documentation to advise they are repaying a Student and Training Support Loan.
🎯 Tax Free Threshold and Student and Training Support Loans (STSL) are disabled If TFN Exemption Code 333-333-333 is entered.
Employment Basis is based on the Payees' regularity of work and entitlement to Leave.
Date Signed and Payee Signature Present? indicate the date the Payee signed and returned the physical Tax File Number Declaration to you.
