Forum Discussion

JenDPT's avatar
JenDPT
Experienced Cover User
31 days ago

Payroll giving

 

Hi there

I am using MYOB Business Payroll and am looking at setting up Payroll giving.

 

I need to do the following:

Deduct the donation amount your employee has requested from their salary or wage.

Work out the tax credit for each donation an employee makes. The amount is 33.33% of the donated amount. Reduce your employee’s PAYE by this amount.

Record the tax credit for each employee when you submit your employer monthly schedule.

 

Is this something that is available in Business Payroll? or would I have to manually work it out for each deduction/pay run?

 

Thanks for any help/clarification.

 

1 Reply

Sort By
  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    27 days ago

    Hi JenDPT,

     

    I see you're trying to set up payroll giving in MYOB Business Payroll. While I can't give you specific financial advice, I can certainly guide you a bit. You're on the right track with deducting the donation amount from the employee's salary and working out the tax credit. Here are a couple of links that might be useful for you:

    I would also recommend that you speak with your accountant for further assistance.

     

    Feel free to get in touch if there's anything else I can assist you with.

     

    Cheers,

    Princess