CHBA
5 months agoMember
Tax free threshold if earning over $3400/week
I have been unable to find clarification in the forum, so am starting a new question.
Using this specific from the PAYG Tax Table (2025) as an example: "When an employee is claiming the tax-free threshold & the employee earns more than $3,400 (but less than $3,653), withhold $968 plus 39 cents for each $1 of earnings in excess of $3,400".
I am wondering does MYOB (AccountRight) calculate this extra tax automatically once the threshold amount/limit has been reached? Will it be calculating the $968 plus 39c for every $1 of earnings in excess of the $3,400? Or do we need to be adding this manually?
Myob will calculate it for you. If you were paying them $3,600 it would calculate $1,046 tax. Which if you do the formula is correct.