I am getting conflicting advice on what to do with a final pay. My staff member normally works fortnightly and only worked for one week in the last cycle. To make sure the PAYG is correct MYOB suggested I make the cycle weekly rather than fortnightly - but then my accountant thinks I should still do a fortnight pay and just adjust the hours. Suggestions??
Hi Tee3
Thanks for your post. To ensure the correct amount of PAYG is withheld for that final period I'd recommend checking with the ATO or using the ATO tax calculator: Tax withheld for individuals calculator
This Help Article, Processing a final pay, has detailed information to assist with the final pay.
Please let me know if you need further help.
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