Checklist for Employers Year-end
A few extra matters to consider when preparing employee payment summaries
• Have any allowances been paid to employees? Should such allowances be shown?
• Has a travel allowance been paid for overnight food and accommodation? Does the substantiation exception apply?
• Has an employee(s) been paid a cent per kilometre ‘reimbursement’? Such amount must be included as an allowance (as it is not strictly a reimbursement, notwithstanding that it is commonly referred to as such).
• Have you included employees that are also related parties of the business (e.g. family members)?
• Do payment summary totals match amounts disclosed on Business Activity Statements?
• Have superannuation and fringe benefits been reported accurately?