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.  

Sam_R's avatar
Sam_R
Former Staff

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 

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