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To record a payee's company tax details, follow the procedure below.
8.
If the payee is subject to a voluntary withholding agreement at a rate that is a Commissioner's Installment Rate (CIR) rate, tick the CIR Applies field.
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CIR applies if the payee’s rate of voluntary withholding is anything other than the standard 20% voluntary withholding rate. Where that is the case, the CIR Applies field must be ticked so that the relevant tax treatment code can be reported in Single Touch Payroll reports to inform the ATO that a CIR applies and therefore tax is not being withheld at the standard rate. |
9.
How to Record the Company Tax Details | |
If you do not already have the relevant payee record open in the Payee Entry screen, search for and open the relevant payee record in edit mode. | |
2. | Navigate to the Payee Details > Company Tax Details section of the Payee Entry screen. |
3. | In the Company Name field, key in the name of the payee's company. |
4. | In the Business Name/Trading Name field, key in the registered trading name under which the payee's company operates. This may be the same as the company name |
5. | If the payee is registered to collect Goods and Services Tax, click GST Registered and key in the Australian Business Number of the payee's company in the ABN field. |
6. | If the payee has their own insurance policy, click Insurance. |
7. | |
If the payee is subject to a voluntary agreement to have tax withheld under the PAYG system, click Voluntary Agreement and key in the Commissioner's Instalment Rate or agreed withholding percentage in the CIR/Withholding % field.
If the payee is not subject to a voluntary withholding agreement, skip this step and go directly to step 9.
Optionally, key in the address details of the payee's company in the Company Address field grouping. |
8. | At the top of the Payee Entry screen, click Save. The changes you have made are saved. |