Forum Discussion

WMack's avatar
WMack
Experienced User
4 months ago

New Tax Table from July 1, 2024

Hello,

 

When should we receive the update for the above?

  • Hi WMack

     

    Thanks for asking about the new tax table update! Usually, PAYG tax tables update automatically if your payment date is July 1, 2024. While the tax rate changes will kick in on the date of payment, which is July 31, 2024, or later. For more info, you can check out these articles:

    Feel free to get in touch if you need more help.

     

    Cheers,

    Princess

  • Hi WMack

     

    Thanks for asking about the new tax table update! Usually, PAYG tax tables update automatically if your payment date is July 1, 2024. While the tax rate changes will kick in on the date of payment, which is July 31, 2024, or later. For more info, you can check out these articles:

    Feel free to get in touch if you need more help.

     

    Cheers,

    Princess

  • Cazza419's avatar
    Cazza419
    Contributing User

    Hi Princess,

     

    My tax table revision date is showing 1/7/2024 but the tax table has not updated?

    Ho can I fix this please?

    • Princess_R's avatar
      Princess_R
      MYOB Moderator

      Hi Cazza419,

       

      Thanks for reaching out! Once the date of payment in the pay run is July 1, 2024, or later, the newest tax tables will automatically apply. This means there's nothing you need to do to update the tax table. If your tax table revision date is showing as 1/7/2024 but the tax table has not updated, it's possible that you haven't processed a pay run for the payroll year yet. If you've already processed a pay run and the tax table is still not updating, please don't hesitate to reach out. 

       

      Cheers,

      Princess

  • Cazza419's avatar
    Cazza419
    Contributing User

    Hi there , I have already processed two pay runs this financial year so not that problem? 

    • Princess_R's avatar
      Princess_R
      MYOB Moderator

      Hi Cazza419,

       

      Thanks for getting back to us! If the pay period and payment date are all correct, the tax tables should update automatically. But if they’re still not updating, could you please send us a screenshot of your financial year and some more details about the tax tables that aren't updating? This might be a bit tricky, and we might need to dig a little deeper. You may need to visit help sites like myob.com/support or myaccount.myob.com to find MOCA, our virtual assistant. If MOCA can't help, you'll be automatically directed to our live chat team.

       

      Cheers,

      Princess

       

  • Andesa89's avatar
    Andesa89
    Experienced User

    Hi Team,

     

    Looks like we also have the same issue. Tax revision table is showing 01/07/2024 but when we processed payroll from 1st July to 15th July it was same as last year's pay. one of our staff has already complained why he is not paid more when the AU govt has announced tax cut from 1st July.

    • gavin12345's avatar
      gavin12345
      Ultimate User

      Hi Andesa89 

       

      Can you please upload a screenshot of the Lists > Payroll Categories > Taxes > PAYG > Tax Free Threshold screen, sort the table to show in the correct order.

       

      Regards

      Gavin

      • WMack's avatar
        WMack
        Experienced User

        Hello Gavin

         

        This isn't Andes89 but I'm about to run a payrun on Friday and wanted to check it is correct.  Please see attached screenshot as requested.

  • Hi WMack 

    These are the correct 1 July 2024 rates, so it is a mystery why MYOB would still be using the old rates. Check the Employee Cards > Payroll Details > Taxes tab to ensure the correct tax table is selected and there are no rebates, extra taxes etc.

     

    If that is all good, and MYOB is still giving you the wrong PAYG calc, attach a screenshot of the Payscreen for an affected employee - blur or hide person details.

     

    Regards

    Gavin

     

     

  • WMack's avatar
    WMack
    Experienced User

    HI Gavin

     

    I was only checking that the tax rates were correct in our system before running the payroll tomorrow.  It is  Andesa89  & Cazza419 who are having the problems.  Thanks for confirming ours is correct.

  • Cazza419's avatar
    Cazza419
    Contributing User

    Tax revision table is showing 01/07/2024 but when we processed payroll from 1st July the tax has not changed? I have included screenshots to see if anyone can see the problem

    Thanks

    • Princess_R's avatar
      Princess_R
      MYOB Moderator

      Hi Cazza419,

       

      Looks like you're still having a bit of a hiccup with the tax rate not updating in your recorded pay run. I noticed from the screenshot you've shared that you've only attached the tax table revision date. To help us get a clearer picture of what's going on, could you also share a screenshot of the PAYG withholding screen and, if possible, the affected pay run? Please ensure that no sensitive information is included in the screenshots.

       

      Looking forward to your reply.

       

      Cheers,

      Princess

      • Cazza419's avatar
        Cazza419
        Contributing User

        Thank you ,

        Yes the tax table revision date is correct now but the tax has not updated as per below screenshots?