Forum Discussion

Tiu's avatar
Tiu
Experienced User
3 years ago

Payroll Tax

Hello,

 

I hope you are well. Just asking about the automatically computed tax in MYOB, it's $842.

 

Gross pay: $3,496.50

Tax: $842.00

Net Pay: $2,654.50

 

Superannuation Guarantee $349.65

 

 

but one of our employees is getting 799.12 as tax, I attached the screenshot that was sent by the employee. Would you be able to help me with how did we get the $842 tax?

 

Thank you so much.

 

Kind Regards,

Tiu

 

  • Sam_R's avatar
    Sam_R
    3 years ago

    Hi Tiu,

     

    If you're using the latest AccountRight version and you're connected to the internet, you'll always have access to the most up-to-date tax tables.

     

    As per the ATO Fortnightly Tax Table and the details you've provided, $842 would be the amount of tax withheld from an employee with the Tax-free threshold - which the system is generating correctly. See below:

     

     

     

     

     

     

     

    If your employee is still unsure about this, I would advise them to check with the ATO or a financial advisor for further queries regarding their Tax, however, if you have any further questions regarding the software - please let me know.  

  • Sam_R's avatar
    Sam_R
    Former Staff
    3 years ago

    Hi Tiu,

     

    Thank you for your post. 

     

    So that we can assist you further with this, could you please let us know what tax table this employee uses? And do the employees you're comparing use the same tax table or different?

    • Tiu's avatar
      Tiu
      Experienced User
      3 years ago

      Hi Sam,

       

      Thank you for your response. 

       

      The employee is claiming the Tax Free Threshold. The tax is automatically computed in MYOB.

       

      Thank you. 

       

      Kind Regards, 

      Tiu 

    • Tiu's avatar
      Tiu
      Experienced User
      3 years ago

      The employee said that her tax should only be 799 but in myob we are getting $842.

       

      Kind Regards, 

      Tiu

      • Tiu's avatar
        Tiu
        Experienced User
        3 years ago

        Hello,

         

        I hope you are well. Just asking about the automatically computed tax in MYOB, it's $842. How did we get that? 

         

        Gross pay: $3,496.50

        Tax: $842.00

        Net Pay: $2,654.50

         

        Superannuation Guarantee $349.65

         

        Kind Regards,

        Tiu

         

         

         

         

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