Novated Lease as a Salary Sacrifice
To create a Novated Lease as a Salary Sacrifice, follow the steps below:
Go to the Maintenance, General Parameters, Additions and Deductions.
Click Add.
Enter a Code, Shortcut Key, and a Description (e.g., Novated Lease).
For Category, select Deduction Before Tax
In the Type, select Amount.
Leave all other fields blank.
Click on the STP Reporting tab.
Under STP Phase 2, select Salary Sacrifice for Reporting Group and O (Other Employee Benefit) as Reporting Subgroup.
Don't tick OTE.
Click OK to save.
Novated Lease as an After Tax Deduction
If you need to create the Novated Lease as an After Tax Deduction, you can follow the steps above with the following changes:
At Category, select Deduction After Tax.
Under STP Phase 2, select Exclude from STP Reporting for the Reporting Group. The Reporting Subgroup will be greyed out.