Forum Discussion

Contributing User

5 months ago

Solved

Correcting tax deducted in termination payment

I have an employee whose termination payment was processed on 31/07/2025. In amending the tax payable on a large unused leave amount, I have left the cents in the tax deducted ($x.92).

Now when I go to lodge my July IAS, the ATO is of course only looking for the $x amount and not the cents. How do I correct this is MYOB (and therefore STP)?

Isaiah_C
5 months ago
Hi TAGCRU,

Yep, those pesky cents can definitely cause an issue when it comes to lodging with the ATO. They only want nice, neat whole dollars. No dramas though, we've got a handy guide that'll walk you through what to do when the figures don't quite line up: Fixing an ETP.

Regards,

Sai

3 Replies

Earl_HD
MYOB Moderator
5 months ago
Hi TAGCRU,

Yes, you can use the same process to fix tax withheld cents for both ETPs and standard termination payments like unused annual leave. Just reverse or edit the original pay, then reprocess it.

Regards,
Earl
Isaiah_C
MYOB Moderator
5 months ago
Hi TAGCRU,

Yep, those pesky cents can definitely cause an issue when it comes to lodging with the ATO. They only want nice, neat whole dollars. No dramas though, we've got a handy guide that'll walk you through what to do when the figures don't quite line up: Fixing an ETP.

Regards,

Sai
TAGCRU
Contributing User
5 months ago
Thanks Isaiah_C ... I imagine this is the same process if it isn't an ETP - just a normal termination payment of unused annual leave?