F19 Tax tables

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Contributing Cover User busterboo367
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F19 Tax tables

We are running accountright 2018.3 & I have a query on the F19 tax tables. One staff's gross wage is $992 & tax according to MYOB is $175 but according to the ATO tax scales it should be $180. This person claims the tax free threshold & nothing else.

 

Can anyone pls advise as I don't want our staff to be hit with a tax bill at the end of the year because we haven't deducted enough tax.

 

Many thanks for your assistance.

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MYOB Moderator Neil_M
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Re: F19 Tax tables

Hi @busterboo367

 

The first thing to check is that this year’s tax tables have indeed been loaded in AccountRight. This is done by going to Setup >> General Payroll information and ensuring that the Tax Table Revision Date is 1/7/2018. If this date is showing then it means that the company file is using the ATO’s published tax tables for this payroll year. If the date showing for the Tax Table Revision date is not 1/7/2018 then you can get AccountRight to load the correct tax tables by going to Setup >> Load Tax Tables.

 

In addition it might be worth ensuring that the tax table calculator that you were using on the ATO’s site was the correct one. As they have a number of different calculator’s on their site an incorrect or out of date calculator may have accidentally been selected

Regards,
Neil

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Contributing Cover User busterboo367
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Re: F19 Tax tables

Thanks Neil, I did that & this is what I get  - see file below - surely that can't be right!!. The date is greyed out too. I have asked another person to check the ATO tax tables & I am sure I am using the right one.

 

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MYOB Moderator Neil_M
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Re: F19 Tax tables

Hi @busterboo367

 

When you roll into a new payroll year the tax tables are not automatically loaded, they have to be loaded manually by going to Setup >> Load Tax Tables. If this wasn’t done at the start of the payroll year, then pays in that payroll year would use the tax tables from the previous year.

 

The Tax Table Revision Date represents the date of the last loaded tax tables within that company file and is definitely out of date. This explains the discrepancy with the ATO’s tax tables calculator. You can load the tax tables embedded within AccountRight 2018.3 by going to Setup >> Load Tax Tables.

 

This will load the tax tables within AccountRight 2018.3, which are the current tables as of the time of posting, onto the file. All future pays will use the newly loaded tax tables, however none of the existing pays will be adjusted to use the newly loaded tax tables

Regards,
Neil

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Contributing Cover User busterboo367
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Re: F19 Tax tables

Many thanks for your help Neil, it worked!! I am very surprised that the tax tables are not loaded automatically on 1 July or a warning message put up on the screen for us to do it. Luckily none of our staff complained as it didn't really affect them that much but at least it will be right going forward. Thanks again and have a good day. Cheers Jackie

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