AU Payroll: Option to include allowances in annual salary on payslip
We pay our employees under the Electrical award which includes several compulsory 'All Purpose' allowances that are now reported separately as per STP2. Why are these allowances excluded from an employee's annual salary on their payslip? They used to be included as part of their base hourly rate - therefore included in their annual salary and as such, should still be included in 'annual salary'. Can you please have the option to 'include in annual salary' when setting up Allowance categories in the pay items?
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Bridget Baker commented
Yes. Can someone please answer this?
I have an employee who just came to me with that and their annual income in Xero and on payslips says $77,496.
However, this is ONLY the base rate and does not include the all purpose allowances that I also have to pay them as part of their award mandated income. The PACT caluclator at Fairworks includes them as part of the base hourly rate but I have to pull it out separately since STP2.
The employee wants to apply for a mortgage but their payslip pegs their annual income at $5,000 less than it actual is.
$5k difference is a **** of a lot when applying for a loan.
Can someone tell me how to change this so my employee can go to the bank with the accurate amount?