Jlee
4 years agoExperienced Cover User
Car allowance
Hi myob community One of our employee's is being given a set $13K gross per annum car allowance ($250 weekly) He is on a salary. ...On the ATO website $0.72/km up to 5000km is Tax Free which equals...
- 4 years ago
Hi Jlee
Thanks for your post. From an AccountRight perspective this help article has step-by-step instructions on how to set up an Allowance: Allowances
Payroll categories are reported through STP according to the ATO reporting category selected. This help article will assist with selecting the correct ATO reporting category when creating the Allowance payroll category: Assign ATO reporting categories
When is comes to PAYG Withholding on the car allowance you will need to speak to your accountant or the ATO to make sure you are withholding the correct amount.
Please let me know if you need further help.
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