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Mel789's avatar
Mel789
6 months ago

PAYG Tax Withholding in MYOB is different to ATO Tax tables

Hi,

 

I am paying an employee a weekly pay of $942. The tax taken out in MYOB is $142 but the ATO weekly table has $124 tax.  The employee is claiming the tax free threshold.

What could I be doing wrong that they aren't the same tax figure?  

 

Thanks!

Mel

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  • gavin12345's avatar
    gavin12345
    6 months ago

    Hi Mel789 

     

    The PAYG always includes any Medicare - this is normal. Re-check your figures. The ATO documentation shows $142 for a gross weekly on $942. This may change after 1 July 2024 but not before.

     

    Regards

    Gavin

    gavinw222@gmail.com

     

  • Mel789's avatar
    Mel789
    6 months ago

    Further to the above post, Tax Table Revision Date is 01/07/2023.

  • Pamalexander's avatar
    Pamalexander
    Experienced Cover User
    6 months ago

    Is the ATO tax table including Medicare Levy of 2% or is it separated

  • gavin12345's avatar
    gavin12345
    Ultimate User
    6 months ago

    Hi Mel789 

     

    The PAYG always includes any Medicare - this is normal. Re-check your figures. The ATO documentation shows $142 for a gross weekly on $942. This may change after 1 July 2024 but not before.

     

    Regards

    Gavin

    gavinw222@gmail.com

     

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