Remunerator News

Mar 11 2015

Reconciliations

A full salary packaging reconciliation will be conducted for each employee. This is done on an Annual basis at the conclusion of the FBT year and will be delivered to you shortly after your FBT Reporting Suite to ensure compliance with ATO guidelines and dates for submission.

The Salary Packaging and Novated Lease Reconciliation result of Deductions Vs. Expenditure will be provided to you via a CSV file showing balances to be actioned.

In the event that a recovery is required, an automatic deduction of (up to) $500 will occur via payroll. Any customers with liabilities that are greater than this will be contacted by Remunerator to arrange a repayment plan for the remaining portion.

Details of recoveries incurred due to FBT Liabilities can be found detailed in the FBT Reports, particularly for Associate and Novated Lease customers who have not met their statutory travel requirements.

Further instructions on how to manage this process will be provided when the Reconciliations are issued.