PAYG for Bonus Payment
Hi,
I would like to know how did MYOB calculate for bonus payment. Seems it is a bit higher than normal pay.
Regards,
Ray
Forum Discussion
Hi rluk
Generally MYOB will use the selected tax table for this employee to calculate PAYG - it does not differentiate between income types - whether it is bonus/overtime/leave/normal pay - it simply uses the gross total. So when you have an unusual payment, you may need to calculate the PAYG manually using the ATO printed tax tables to calculate the PAYG owing, and then manually override the amount calculated by MYOB for this pay.
Regards
Gavin
