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JoC94's avatar
JoC94
Contributing User
2 years ago

2024 Tax Tables- Study Loans

Hi,   One of our employeees received a message from the ATO telling them that theu have to make a compulsory repayment in 2023-24 on their Study Loan and that the Employer will have to take extra t...
Doreen_P's avatar
Doreen_P
MYOB Moderator
2 years ago

Hi, JoC94 

 

Thanks for your post, and welcome to the MYOB Community Forum.

 

If your employee needs to repay the Study Loan, make sure your Tax table is updated. Once the Tax table is updated, it already has the increase or correct calculation. You may refer to The Help Articles: PAYG tax tables and Taxes for more information. However, if you are unsure which Tax table to use, we highly recommend speaking with your accounting advisor or with the ATO. 

 

Please let us know if you require any further assistance with this.

 

Best regards,

Doreen

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