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HELP & FS for Tax Tables

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Fifitz
Experienced Cover User
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Experienced Cover User
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HELP & FS for Tax Tables

Hi,

 

I have had new employees start that have ticked yes to having a HELP, VSL, FS, SSL & TSL debt on their tax declaration form. There is no distinction anymore as to what loan they actually have. It is yes or no to all.

 

But in MYOB there is too many options, how are we supposed to know which one to apply.

 

Can MYOB update its product in line with the ATO.  To show that there is no longer three different outcomes for student loans, ie. FS, HELP, or FS + HELP.

 

The employee only answers YES or NO for question #10 on the TFN Declaration form so the MYOB software should be bought in-line with this to avoid confusion.

 
Thanks, any suggestions.
 
Fiona
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Steven_M
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Re: HELP & FS for Tax Tables

Hi @Fifitz 

 

Thank you for your feedback in regards to AccountRight and the tax tables available.

 

The majority of the tax table's names are reflective of the status of that employee and their declaration. However, there may be times where the ATO declaration form doesn't fully translate across and would required users to investigate the options available to determine the appropriate tax tables. If you are needing assistance with what option or what the PAYG value should be we do recommend that users seek assistance from the ATO/accounting advisor to ensure that they have selected the appropriate tax table to generate the desired amount of tax for their requirements.

 

A user can review the calculations for an individual tax table through the Payroll>>Payroll Categories>>Taxes>>Choosing the PAYG Withholding option. Our Help Article: Taxes outlines how those calculations work.

Kind regards,
Steven

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Fifitz
Experienced Cover User
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Experienced Cover User
Australia
Experienced Cover User

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Re: HELP & FS for Tax Tables

Thanks for your feedback Steven,

 

But you are missing the point, MYOB tax tables should be reflecting the ATO tax declaration.

The ATO has merged all of the HELP, FS, TSL,VSL SSL into one tax table, yet MYOB still has choices about which one to choose.

Which means you have to contact employee and ask what debt they have, when it doesn't actually matter anymore.

MYOB should be reflecting this.

 

Thanks again for your feedback.

Kitchendesigns
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Re: HELP & FS for Tax Tables

Having the same issue with Myob Essentials Payroll...MYOB does n ot match up to the Tax Declaration form for employees

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