Forum Discussion

podtimbo's avatar
podtimbo
Cover User
2 years ago

payroll tax

Can you please tell me what the tax amount on $2030 for a fortnight for a single person, claiming the no tax threshold, paying a medicare levy with no hecs debt?  

 

 

  • Princess_R's avatar
    Princess_R
    2 years ago

    Hi podtimbo,

     

    Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

     

    Regarding your concern with the tax calculation, please refer to our Help article, Taxes, which has detailed information regarding this. However, since the tax tables are set by the ATO, please refer to this link for further assistance. You may also check the tax calculation from the Tax Withheld for Individuals calculator. As we can't provide tax advice, I highly recommend speaking to your accountant or bookkeeper for tax calculations.

     

    Please feel free to create a new post again if you need help in the future. I'm happy to assist.

     

    Cheers,

    Princess

     

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    2 years ago

    Hi podtimbo,

     

    Thank you for your post. I'd like to extend you a warm welcome to the Community Forum. I hope you find it a valuable resource.

     

    Regarding your concern with the tax calculation, please refer to our Help article, Taxes, which has detailed information regarding this. However, since the tax tables are set by the ATO, please refer to this link for further assistance. You may also check the tax calculation from the Tax Withheld for Individuals calculator. As we can't provide tax advice, I highly recommend speaking to your accountant or bookkeeper for tax calculations.

     

    Please feel free to create a new post again if you need help in the future. I'm happy to assist.

     

    Cheers,

    Princess

     

    • podtimbo's avatar
      podtimbo
      Cover User
      2 years ago

      Thank  you  for your reply. My  question  was  not  specific  enough for  the  answer  i wanted .Without  personal advice  my  question is , there is    a  difference  of  tax taken from  my  employee in a  fortnightly  pay , from the  tax  tables  online (  most  recent  tables )   , and the  ammount  MYOB calculates is a  difference  of  $184. I  believe  we  have  ticked  all  the  correct  boxes (  including  tax  free threshhold). My  questions  are  , does MYOB   calculate  the correct  tax  to  be  withheld (  with  respect  to tax  tables ) . I  see that  there is a  benifit  in  paying  nore tax  (  ie  refund at end  of  year ) , but  with  cost of  living living  pressures  paying  and  extra  4 grand  per  year  is  difficult  for the  employee.

      • podtimbo's avatar
        podtimbo
        Cover User
        2 years ago

        OMG  I apologise  , we have just  worked it out  !  SHe was being  taxed  at  a WEEKLY not  fortnighly rate ! Tyhat  solves the issues ........

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