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Correcting tax deducted in termination payment

TAGCRU

I have an employee whose termination payment was processed on 31/07/2025. In amending the tax payable on a large unused leave amount, I have left the cents in the tax deducted ($x.92).

Now when I go to lodge my July IAS, the ATO is of course only looking for the $x amount and not the cents. How do I correct this is MYOB (and therefore STP)?

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Accepted answers

Isaiah_C

Hi @TAGCRU,

Yep, those pesky cents can definitely cause an issue when it comes to lodging with the ATO. They only want nice, neat whole dollars. No dramas though, we've got a handy guide that'll walk you through what to do when the figures don't quite line up: Fixing an ETP.

Regards,

Sai

All comments

Earl_HD

Hi @TAGCRU,

Yes, you can use the same process to fix tax withheld cents for both ETPs and standard termination payments like unused annual leave. Just reverse or edit the original pay, then reprocess it.

Regards,
Earl

TAGCRU

Thanks @Isaiah_C ... I imagine this is the same process if it isn't an ETP - just a normal termination payment of unused annual leave?

Isaiah_C

Hi @TAGCRU,

Regards,

Sai