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Lenny555's avatar
Lenny555
3 months ago

STSL Deductions

Hello   I have an employee who has selected the Tax free threshold + STSL, in his  pay the tax deducted was the correct amount for the pay cycle but there was no additional deduction for the loan. ...
Shella_A's avatar
Shella_A
MYOB Moderator
3 months ago

Hi Lenny555,

 

Tax deduction for an employee who has selected the Tax Free Threshold + STSL should automatically include the loan repayment as part of the PAYG withholding. Just ensure that the employee's tax settings are correctly configured in the system and has selected the correct tax tables so that loan repayment will be calculated automatically. You may also check with your accounting advisor or the ATO while dealing with this matter. See this link for more details.

 

 

Kind regards,

Shella

Lenny555's avatar
Lenny555
3 months ago

Thanks Shella

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