Hi, one of my Clients is a registered employer of Working Holiday Makers. The employee has surpassed the $45,000 threshold to be taxed at 15%. How do we change in MYOB to be taxed at 30%. Is it simply withholding variation?
Thanks all, Bronwyn
Hi @BronwynHamster,
That's a good question. Yes, if the ATO has told you that the person should be taxed at a flat 30%, you’d set that up using the Withholding variation tax table:
Just make sure you’re only doing this where you’ve got an ATO variation or advice from their tax agent, as it overrides the normal PAYG tables.
Regards,Genreve
Thanks Doreen
I have changed to Withholding Variation as you have suggested as 15% is payable on every dollar up to about $45k and this fellow wont earn that much which working for us.
Thanks for your guidance.
Hi @LDOG,
You’re on the right track checking this. If you’re on the latest version of AccountRight, you’ve already got the most up to date tax tables, so you don’t need to update anything. For Working Holiday Maker – Registered, the 15% rate applies based on the ATO thresholds. You can see the exact brackets by opening the PAYG Withholding category in your file and checking the details there.
If you need a flat 15% every pay, you can follow Genreve’s steps:
For more detail on how the PAYG tax tables work, you can also check this help link on PAYG tax tables. If you're still having issues with tax tables, You can reach them on Live Chat via our virtual assistant, MOCA, or by submitting a support case via My Account. This way, they'll be able to check what's going on behind the scenes.
Cheers,
Doreen
Morning
The issue with the PAYG withholding not updating for me - is this something I should log a support ticket for?
Thanks Bronwyn, for some reason - Foreign Resident was showing, not Working Holiday Maker - Registered.
How do I go about changing as it won't save for me keeps defaulting back to Foreign Resident?
Many thanks, love this community forum.
Leanne
Hi,
On the payroll details taxes tab please ensure you have selected the three fields as shown in the attached screen shot. If you aren't registered as an employer of WHM then the tax rate is higher than 15%. If you choose registered the tax rate should be 15%.
Further to this question, we have setup correctly I believe in MYOB as Tax Table Working Holiday Maker Registered, and chosen the country of origin however MYOB isn't taking 15% - are our tax tables incorrect?
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