Hi. I've done the end of financial year 2024/2025 for the payrolls. Some of the staff are busy submitting their tax returns and they have not had enough tax deducted from their wages. We pay each Monday. It seems that in this year there were 53 payroll runs instead of the usual 52 payroll runs. Surely Myob should still account for the year as a whole and deduct the correct tax accordingly. Regardless of how many payroll runs are done
Hi KingLewis,
MYOB sorts out tax calculations for the whole year automatically, even if there’s an extra pay run like this year. The one thing to double-check is that you’ve got the right tax tables plugged in using this link, just to be safe. That way, the right amount of tax comes out no matter how many pay runs you do. If it still giving you incorrect tax deductions, give our team a buzz through our virtual assistant MOCA or pop up a support ticket through MyAccount for further help.
Cheers,
Shella
Hi. I did a MOCA support ticket and they checked that all our income categories were taxed correctly. They couldn't give any solution
Our accountants think it is due to the 53 week pay runs, instead of the usual 52 that the tax tables generate to.
