Hi there,
I'm setting up a client who employs subcontractors that are GST registered but also have withholding tax deducted from their wages payments.
Would it be possible to integrate th...
Rob, OK I am not familiar with NZ tax requirements. I can see you are making a suggestion. I would think it is still counter-intuitive to be putting ANY contactor payments through a payroll system.
In your example, YOU have an expense that is $1,000 - if you use the GST code, MYOB will generate a gross amount of $1,150 (expense $1000, GST $150). What you are saying is you need MYOB to calculate 20% (of $1,000 or $1150). Probably what MYOB could have is a code for a % of withholding tax.