Hi,
An employee who is a working holiday maker on 75k salary has been taxed at 15% flat from 1/7/23 to early feb 2024.
For the last two pay periods, his tax has more than doubled. It looks as though the tax now being deducted is making up for a shortfall of tax over the first 31 weeks of the year.
Was there an error in the working holiday maker tax tables issued by the ATO which has now been corrected in the recent 2024.1 MYOB software upgrade?
Thanks
Hi Vaughn,
Thank you for your post, and we apologize for the delay in responding back to your query.
MYOB is designed to automatically calculate tax based on the settings you've established for each employee. If there seems to be an issue with the calculation, we generally recommend consulting with the ATO for clarification. It's good to hear that the recent MYOB upgrade fixed the calculation. As to whether there was an error in the working holiday maker tax tables issued by the ATO that has now been corrected in the recent software upgrade, we don't have direct control over the tax tables. They are provided by the ATO. Any changes or corrections would be a result of updates from the ATO.
This Help article, Working Holiday Makers, has detailed information that you might check.
Please don't hesitate to reach out if you need further assistance.
Cheers,
Princess
