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SuFish's avatar
SuFish
Experienced User
2 months ago

PAYG Tax does not match ATO Tax Table

I paid someone yesterday a total of $1633.80 made up of Base Hourly $1400 and Public Holiday Loading $233.80.  The person has the Tax Free Threshold. Myob calculated the tax at $381 but when I check the ATO Weekly Tax Table it says $1,634.00 should be taxed at $347.00. Any idea what might be wrong accounting hive?

 

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  • gavin12345's avatar
    gavin12345
    Ultimate User
    2 months ago

    Hi SuFish 

     

    If you look at the current ATO tax tables, for $1633 it shows $381 - so MYOB is calculating the correct amount. If you look at next payroll year's tax tables (apply from 1 July 2024) the amount might be different.

     

    Regards

    Gavin

    • SuFish's avatar
      SuFish
      Experienced User
      2 months ago

      Must have grabbed the wrong one. Thanks Gavin. I'll check again.