Forum Discussion

Mely1's avatar
Mely1
5 months ago

Tax Table revision 24/25

Hi all,  I am trying to run my payroll for last week (24 - 28th June) which i always run the following monday but my tax tables have already automaticly updated already to show the revision date of ...
EverlastTarps's avatar
EverlastTarps

If the payment is being made in July then the new tax rates apply and this pay cycle is part of the 2024/25 financial year

OzTara's avatar
OzTara
Experienced Cover User
5 months ago

The wording says to apply new rates for the 'first full pay period in the new year' so the payment date should simply be backdated to include the last pay period in the previous year.

  • gavin12345's avatar
    gavin12345
    Ultimate User
    5 months ago

    Hi OzTara 

     

    What wording are you referring to - can you provide a link. PAYG withholding rates are always based on the date of payment. Wages increases are different and these apply to the first full pay. Curious to see where this states otherwise.

     

    Regards

    Gavin

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