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H-TS's avatar
H-TS
Trusted User
5 months ago

Medicare Levy Surcharge - 1%

Hi, I have the exact same question as this post that had no replies. Medicare Levy Surcharge additional 1% withholding | MYOB Community   So copying and pasting the original message from DH30   ...
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  • gavin12345's avatar
    gavin12345
    5 months ago

    Hi H-TS 

    MYOB is quite limiting here - the inability to map a Deduction to PAYG is crazy as many users use Deductions for additional PAYG, whether to show the STLS component separately (some employees want this) or for things like the Medicare surcharge.

    The only 'solution' I can suggest is to do a 'guesstimate' of the annual amount, set as extra tax the average per pay. Then do an adjustment on the final pay for the year. This way you manually override just once. Let employee know what you are doing.

     

    Not ideal but it seems no other option if gross pay varies from pay to pay.

     

    Regards

    Gavin

    gavinw222@gmail.com

gavin12345's avatar
gavin12345
Ultimate User

Hi H-TS 

MYOB is quite limiting here - the inability to map a Deduction to PAYG is crazy as many users use Deductions for additional PAYG, whether to show the STLS component separately (some employees want this) or for things like the Medicare surcharge.

The only 'solution' I can suggest is to do a 'guesstimate' of the annual amount, set as extra tax the average per pay. Then do an adjustment on the final pay for the year. This way you manually override just once. Let employee know what you are doing.

 

Not ideal but it seems no other option if gross pay varies from pay to pay.

 

Regards

Gavin

gavinw222@gmail.com

H-TS's avatar
H-TS
Trusted User
5 months ago

Thanks gavin12345

That's a good suggestion I hadn't considered. As you say, not ideal, but could work. I'll give it some thought - and how to record/explain it for someone else if I don't happen to be the one doing payroll this time next year. This person also gets bonuses throughout the year so their tax calculations are already a mess that MYOB can't handle, so that adds another layer of complication for the end of the year. We have some BIG spreadsheets. LOL
I appreciate the quick response!

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