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A lump sum E is an amount of back payment that accrued, or was payable, = more than 12 months before the date of payment and is $1200 or more. = If you're not sure if a back payment should be reported to the ATO as a gro= ss payment or lump sum E, speak to your accounting advisor or the ATO.
For Single Touch Payroll (STP) Phase 2, if you assign
=20
Lump sum E= payments which span multiple years
If a lump sum E payment = spans multiple financial years, such as back pay for 2017, 2018 and 2019, y= ou'll need to create separate payroll categories for each financial year th= e payment relates to.
Before you can start reporting to the ATO for STP Phase 2, you'll need t= o do something about any lump sum E payments you've already paid.
For each lump sum E payment you've already paid, you'll need to work out= if:
the payment related to one financial year
=20Example
Yo= u paid an employee a lump sum E payment of $3300 in July 2021 and reported = it to the ATO via STP. This payment related to back pay which accrued over = the 2019/20 financial year.
the payment related to multiple financial years
=20Example
Yo= u paid an employee a lump sum E payment of $3300 in July 2021 and reported = it to the ATO via STP. This payment related to back pay which accrued over = two financial years: 2018/19 and 2019/20.
You work out how much of th= e $3300 accrued over each financial year:
you've created multiple payroll categories for lump sum payments tha= t relate to the same financial year
=20Example
Yo= u created a lump sum E payroll category for Mary to pay her $3300 for back = pay which accrued in the 2019/20 financial year. You also created a separat= e lump sum E payroll category for Peter to pay him $2500 for back pay which= also accrued in the 2019/20 financial year.
Here's how to handle each scenario.
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