Forum Discussion

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
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

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
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
  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 ........
  - Leneth_A
    Former Staff
    2 years ago
    Hi podtimbo,
    
    Thanks for updating us. We are glad to hear that it is now working and thank you for marking the post of our moderator as an accepted solution. We are grateful for your patience and understanding throughout the process.
    
    In case you have any further queries, please feel free to return to the Community Forum. Our team is always here to help.
    
    Cheers,
    Leneth