Forum Discussion

CompleteStaff's avatar
CompleteStaff
Contributing Cover User
4 years ago

What STP category is used for Novated Leases

Hi, I am trying to set up a Novated Lease in MYOB Accountright. I am assuming I need to set up two deductions with the pre tax deduction set to PAYG exempt.   What Single Touch Payroll Category do ...
  • Tracey_H's avatar
    4 years ago

    CompleteStaff 

     

    Hi Jason

     

    Generally speaking novated leases would be set up as Salary Sacrifice (employee purchases) in AccountRight. If a salary sacrifice deduction is exempt from FBT it's usually not reportable, however, I would recommend checking with the ATO to make sure you do assign the correct ATO reporting category.

     

    Please let me know if you need further help.

     

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