Report Lump Sum B- not yet updated for Phase 2
FROM:
SINGLE TOUCH PAYROLL ‘PAYROLL REPORTING’ BUSINESS IMPLEMENTATION GUIDE (SINGLE TOUCH PAYROLL BIG)
PAGE 36
This represents the amount of genuine redundancy payment or early retirement scheme payment below the tax-free threshold.
1. A lump sum D amount should only be reported if the employee has other amounts to be reported for the relevant financial year.
2. Lump sum D should not be included in the Parent total.
Note: Where software has already been configured to report these amounts at the parent total, an employer can continue to report these up until the 2018-19 years records are finalised as there will be no impact.
Where an employer makes multiple lump sum D payments for different income sources e.g. Individual Non-Business (INB) and Foreign Employment Income (FEI) a single YTD figure should be reported.
STP Creator
In the above comments 'Parent total' refers to the W1 amount for the period.
To avoid reporting a Lump Sum D amount for W1, ensure that the Payroll Category as mapped as N/A for the W1 W2 Field.
If not using MYOB®
Simply select the relevant STP Fields here. On the Assemble Income Statement Data (YTD) screen, manually add or import YTD data indicating the YTD amount for each Payee against each STP Field.