Rebates


This section stores rebates which can be claimed by eligible employees. An annual amount is entered here, and during the payrun Ready Pay will apportion the correct amount to any employees who claim the rebate.

Effectively this reduces the amount of income tax withheld for an employee within the payrun.

 

An employee's withholding rate can be increased at any time but should never be reduced without official notification directly from the ATO.

 
  1. To create a rebate, from the navigator go to Company Definitions > Maintain Company.
  2. Select the Rebates node on the left.
  3. Click on the Add New button on the right.
  4. In the pop up window complete the required details for a rebate:
  • Description: This is the title of the rebate as defined by the ATO.
  • Amount: This is the annual dollar amount for this rebate.






Once you have created a rebate you must link it to the relevant employee. You should only apply a rebate when you have received official notification from the ATO of the employee's eligibility.

  1. Open the relevant employee file using an F3 search or double click on the employee in the Employee list on the right.
  2. Select the Employee Name on the left.
  3. Click the Tax tab on the right.
  4. Click the Add New button in the Rebates section at the bottom of the screen.
  5. Complete the details for the applicable rebate. Click OK and close the Employee file.


Field Explanation
Rebate Select the rebate from the drop-down list, or click <<Add New>> to create a new rebate type.
Amount Enter the yearly amount of the rebate. Ready Pay will calculate the correct portion of the rebate to apply in each payrun.
Effective Date Enter the date the rebate takes effect. The rebate will be applied in each payrun where the period starting date is later than the effective date.

 

 

If the default amount of a rebate changes, you can quickly apply changes to all linked employees.

  1. From the navigator go to Company Definitions > Maintain Company.
  2. Select the Rebates node on the left.
  3. Double click the rebate on the right.
  4. In the pop up window update the rebate amount. Click OK when ready.
  5. Select the rebate on the right, then click the Apply Related button.



    The Apply Related Rebates wizard will open.
  6. Click Next if you are ready to update the related employees now.
    The system shows a list of these employees together with the old and new rebate amounts.



  7. Click OK when the update is completed, this will close the window.