Forum Discussion

RavinaP's avatar
RavinaP
Member
1 year ago

Novated Lease

Hi, I have entered a Novated Lease as a Pre-Tax deduction. However when we process the payroll PAYG is calculated on the Gross amount. Novated Lease should reduce your Gross income hence PAYG should be reduced. Can someone advise how to fix this?

1 Reply

  • Doreen_P's avatar
    Doreen_P
    MYOB Moderator
    1 year ago

    Hello RavinaP,

     

    A novated lease set up as a pre-tax deduction should reduce gross income and PAYG when set up correctly. Since deduction isn't reducing the PAYG as expected, it's best to review the set up with your accountant or bookkeeper.

     

    Cheers,

    Doreen

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Level up your skills using MYOB software.

 

Find help guides and technical solutions for all MYOB products here

Explore video tutorials for our software at the MYOB Academy here

 

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.