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  ...
  • 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.