Hi All, trying to get my head around the way this has been set up by previous bookkeeper - client is a registered charity & PBI. Employees are allowed $611.50 a fortnight REFBA (some pay credit cards, rent etc). This obviously reduces the gross amount & therefore tax payable. My quiestion is, what figure should be reported to the TAO via STP & ultimately on their income statement at end of year. Example:-
Gross Salary $1000.00
LESS RFBA $611.50
Taxable salary $ 388.50
I imagine it would be the $1,000.00 on STP & then on the income statement it would be $1000.00 gross & RFBA $611.50?