ERROR when finalising STP for RFBA
- 4 months ago
Hi MRAK,
Thanks for posting on our Community Forum.
When finalising an employee with an RFBA for Single Touch Payroll, you would usually enter the grossed-up taxable value of the benefit. This is stated on the following support article: Reportable fringe benefit amounts (RFBA) with Single Touch Payroll reporting (myob.com) (http://help.myob.com/wiki/x/DKlqAg)
As per the ATO website, the minimum grossed-up value is showing as $3,773 for the 2024 financial year. Fringe benefits tax – rates and thresholds | Australian Taxation Office (ato.gov.au) (https://www.ato.gov.au/tax-rates-and-codes/fringe-benefits-tax-rates-and-thresholds#Reportable_fringe_benefits)
Any amount lower than this cannot be entered when finalising the employee. If you have any questions regarding how to report a lower amount, please seek advice from the ATO.
Kind Regards,
Sean