Medicare Levy Surcharge - 1%
Hi, I have the exact same question as this post that had no replies.
Medicare Levy Surcharge additional 1% withholding | MYOB Community
So copying and pasting the original message from DH30
Is there a solution for adding a percentage for the additional Medical Levy Surcharge my employee wants me to withhold each week? My employee has requested:
Claim tax-free threshold - Yes
Additional withholding amount - $0
Medicare levy variation - 1% Medicare levy surcharge
At the moment I can only enter a $ value and this would work if my employee had the same wage amount week in week out. I thought I could set up another Tax Payroll Category just for the additional 1% but Accountright doesn't allow me to add another category, only can edit existing standard category.
There must be a better way than me having to calculate an additional 1% and manually add it to the amount withheld each pay.
Can anyone help?
On another post, a MYOB staff member recommended setting this up as a deduction, but there are no STP reporting category options to do that.
As the employee's income varies from week to week, I can't simply set and forget the "extra tax $ - per pay" category.
Do I really have to manually calculate the additional tax every week?
Note, this is not the standard medicare levy, covered by normal PAYG tax tables, it's an ADDITIONAL surcharge for not having private health insurance.
Hi H-TS
MYOB is quite limiting here - the inability to map a Deduction to PAYG is crazy as many users use Deductions for additional PAYG, whether to show the STLS component separately (some employees want this) or for things like the Medicare surcharge.
The only 'solution' I can suggest is to do a 'guesstimate' of the annual amount, set as extra tax the average per pay. Then do an adjustment on the final pay for the year. This way you manually override just once. Let employee know what you are doing.Not ideal but it seems no other option if gross pay varies from pay to pay.
Regards
Gavin
gavinw222@gmail.com