Do You Have Other Allowances That Are Not Reported on Your PAYG?

You might be wondering, “how do I enter other allowances that are not reported on my PAYG?”

Refer to the steps listed below.

  1. Towards the top of the page, click the second tab with the title, “Income.”
  2. On the page titled, “Income,” click the last box with the title, “Other Income.”
  3. Click the green box towards the bottom of the page titled, “Save & Go.”
  4. On the page titled, “Other Income,” click the orange button titled, “Add New Record.”
  5. On the page titled, “Allowances & Other Income,” enter your information in the provided fields.
  6. Click the green button titled, “Save & Go.”
Follow these steps if you’re having difficulty.

Continue reading “Do You Have Other Allowances That Are Not Reported on Your PAYG?”

Do I have to report allowances and awards not reported on my payment summary?

No.

Firstly, you do not have to include travel allowances or an overtime meal allowance paid under an industrial law, award or agreement if it’s

  • Not shown on your payment summary
  • It does not exceed the Commissioner’s reasonable allowance amount, and
  • You spent the whole amount on deductible expenses.

However, if you choose not to include an allowance, you cannot then claim a deduction for expenses incurred in relation to that allowance.

What is the Living-Away-From-Home Allowance (LAFHA) Fringe Benefit?

Living-Away-From-Home Allowance

 

The Living-Away-From-Home Allowance, also known as LAFHA, is a fringe benefit that your employer pays you in order to compensate for the additional expenses and disadvantages endured by living away from your usual place of residence in order to perform job-related duties. Continue reading “What is the Living-Away-From-Home Allowance (LAFHA) Fringe Benefit?”