Forum Discussion

JunP's avatar
JunP
Contributing User
10 months ago

Working Holiday tax calculation

Hi, Can anyone help or assist on how to fix working holiday tax calculation? In Employee card tax setup correctly to working holiday maker-registered. Country also entered. But when amount entered, ...
JunP's avatar
JunP
Contributing User
9 months ago

Hi Earl_HD​ ,

Please see the screenshot attached for more clearer view.

Wages? 0-$45000

  • Princess_R's avatar
    Princess_R
    MYOB Moderator
    9 months ago

    Hi JunP,

     

    That’s a good observation and thanks for sending screenshot. You’re right that the $0 to $45,000 income is an annual figure. MYOB takes your employees’ weekly or fortnightly pay and works out what that would be over a whole year to figure out which tax bracket they land in. That way, tax gets calculated just like the ATO requires for each type of employee and each pay cycle. If you want to double-check the numbers, you can confirm this on the ATO’s tax withheld calculator. It’ll show you exactly how much tax should be coming out for any amount to pay. 

     

    Cheers,

    Princess

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