Benefit categories

Modified on Tue, 07 May 2024 at 12:01 PM


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Managing benefit categories

Managing benefit and pooling category settings is critical due to legislative rules governing de minimis and pooling calculations

Upon creation of a new entity, a default set of benefit categories is provided. You can manually add, edit, or delete these default categories, and you can also automatically add new categories during import by specifying a new benefit category “Description” in your import data.

Because new benefit categories can be added during import, it's essential to review these settings before each return filing.

Default benefit categories

Default benefit categories automatically linked to pooling category settings. You can delete irrelevant default categories, edit their names and pooling category settings or create new ones. Default categories include:

  • Employment-related loans

  • Funeral trusts

  • Life or health insurance

  • Motor vehicles

  • Sickness, accident, or death

  • Subsidised transport

  • Superannuation scheme

  • Unclassified

Adding and editing

Manually add a benefit category

  1. On the Benefits page (any quarter), click the New button.

  2. Type the name of the new benefit category, for example Southern Cross.

  3. Select the pooling category the benefit belongs to, for example Life or health Insurance.

  4. Click Save.

Automatically add a benefit category during import

When importing benefits, if you use a “Description” not already on your benefit categories list, a new benefit category is added automatically, enabling you to quickly add new categories during import. Imported benefits default to "Unclassified" pooling category setting, which may not always be correct so you should always thoroughly review benefit categories and their settings each quarter before return filing.

Editing benefit categories

  1. On the Benefits page, click the Settings cog button on the benefit category you want to edit.

  2. Edit the name and/or pooling category, as required.

  3. Click Save.

Deleting benefit categories

You can only delete a benefit category if it is unused (i.e. there are benefits associated with it in any locked period across any tax year). This is to ensure that you do not accidentally delete data in prior periods.

  1. On the Benefits page, click the Settings cog button on the category you want to delete.

  2. Click Delete.

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