Tax table not updating 1/7/2024
Can someone please help! I have a tax table revision date of 13/10/2020 My tax table for this year has not updated but my superannuation rate automatically changed. I have been trawling for informa...
Forum Discussion
I have the exact same problem. Initially my tax tables displayed as 13/10/2020. I have spoken at length with support to have it fixed but it is only partially fixed. My Tax Tables now display as 1/7/24 but the tax calculation is still incorrect.
If I do a pay run with a gross figure of $743, I get a net pay of $663. When I check these figures with the ATO calculator online the net figure is $675. I have tried contacting support but no one comes back to me. Not sure how to fix this if I can’t get a reply from back MYOB support.
Hey Brad ,
I thought that it was fixed as well as my new display is 1/7 /2024 but the tax hasn't changed either,
so frustrating ,I haven't received a reply ,my accountant has no idea how to help!
Hi bradm30,
I totally get your concern about the tax calculations being off. Normally, the tax table should update itself after you've done your first pay run. As long as the payment date in the pay run is 1 July 2024 or later, the latest tax tables should kick in - so you don't have to worry about a thing. If the numbers still don't seem right after you've sent the pay run to the ATO, don't hesitate to let us know so we can look into it further.
Cheers,
Princess
Hi Princess,
After contacting MYOB support they did something at the back end to fix the Tax Table Revision date in my payroll settings so it displays 1/7/24 (it was previously showing 13/10/2020). As i stated previously, i have finalised the previous payroll FY end June 2024. I have also now done 2 pay runs dated on or after 1/7/24 and the system is still taxing at the exact same rate as it was in June '24. So for me the new Tax Tables have not kicked in. I suspect MYOB still need to do something else at the back end to my data file to fix this problem for me. I have had a ticket going since 4/7/24 and all it says "in progress". So i am none the wiser as to when they will solve this for me. Its very frustrating to say the least.
Hi bradm30,
I can understand the frustration with the tax table issue you're experiencing. Normally, after you've done a pay run that includes July 1 and onwards, the tax tables should get updated. But it seems like there's a hiccup in your case. We need to dig a bit deeper to figure out what's going on. You can reach out to us directly or have a chat with our virtual assistant, MOCA, on our website. If MOCA can't sort it out, you'll be automatically connected to our live chat team.
Cheers,
Princess
