How the tax tables work for the 2017 compliance update
Products: AccountRight Classic (v19) and AccountEdge
The compliance release for AccountRight Classic (v19) and AccountEdge (v16.5) have two tax tables included in the update. Depending on when you load the tax tables will depend on which one you do have. This is for the changes to the Working Holiday Makers (or Backpackers tax) that was introduced by the ATO on 1st January 2017.
If you do have Working Holiday Markers you will need to do the following steps:
Load the tax table via Setup>>Load Payroll Tax tables. This will load the Working Holiday Makers tax table (tax table revision date 01/01/2017) – Help Article: Working holiday makers
You would then finish your pays for the payroll year and complete the end of payroll year tasks including payment summaries.
Once the payroll year has been closed via File>>Close a Year>>Close a Payroll Year, you will be in the new payroll year (01/07/2017 – 30/06/2018) and you can load the new tax tables via Setup>>Load Payroll Tax Tables (tax table revision date 01/07/2017)
Don’t deal with Working holiday makers? You can skip Step 2. Just install the update, complete end of payroll year tasks and load the tax tables.