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PAYG Tax Withholding in MYOB is different to ATO Tax tables

Mel789

Hi,

I am paying an employee a weekly pay of $942. The tax taken out in MYOB is $142 but the ATO weekly table has $124 tax. The employee is claiming the tax free threshold.

What could I be doing wrong that they aren't the same tax figure?

Thanks!

Mel

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Accepted answers

gavin12345

Hi @Mel789

The PAYG always includes any Medicare - this is normal. Re-check your figures. The ATO documentation shows $142 for a gross weekly on $942. This may change after 1 July 2024 but not before.

Regards

Gavin

gavinw222@gmail.com

All comments

Mel789

thanks

gavin12345

Hi @Mel789

The PAYG always includes any Medicare - this is normal. Re-check your figures. The ATO documentation shows $142 for a gross weekly on $942. This may change after 1 July 2024 but not before.

Regards

Gavin

gavinw222@gmail.com

Mel789

Thank you - I will check.

Pamalexander

Is the ATO tax table including Medicare Levy of 2% or is it separated

Mel789

Further to the above post, Tax Table Revision Date is 01/07/2023.