Forum Discussion

Mel789's avatar
Mel789
7 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

Desktop
  • gavin12345's avatar
    gavin12345
    7 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
    7 months ago

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

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

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

  • gavin12345's avatar
    gavin12345
    Ultimate User
    7 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

     

Looking for something else?

Search the Community Forum for answers or find your topic and get the conversation started!

Community home

Dig into MYOB Academy for free courses, learning paths and live events to help build your business with MYOB.

 

Related content