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Bonus payment tax issue

NicP81

Hi, I did my final 2023 FY pay run yesterday but then decided we were going to give one employee a $5K bonus. I had already submitted his usual pay so I did an extra pay entry for just the bonus but when I worked out the tax I think I have included his usual fortnightly tax as well. ($5K bonus on an $80K income. Usual fortnightly tax is $850 as there is a HECS debt. Bonus tax was $2,392). I think the $2,392 may have included his usual $850 as well which means I've taxed him $850 twice. How do I fix that in MYOB?

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Doreen_P

Hi @NicP81

When paying bonus to an employee, a new wage pay items needs to be set up. The Help Article, Bonus and allowances will provide the steps on how to do it. If the pay has been recorded already, an adjustment is needed. Kindly check The Help Article Fixing a pay as it will guide you through how to do it.

Please let me know if you need further assistance.

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Best regards,
Doreen

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