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ETP Tax withholding

KylieBrave
4 Posts
Cover User
Australia
Cover User

4Posts

1Kudos

0Solutions

ETP Tax withholding

HI Team,

 

On Payroll reporting Year - to -date verification report, ATO has three  categories:

ETP - Taxable component

ETP -  Tax Withholding

Total ETP less ETP tax

 

Query is - Should the Total ETP less ETP tax be the net amount of the Taxable component less Tax withholding ? 

 

For example

ETP - Taxable component is $2190.58

ETP - Tax Withholding is $372.40 

Total ETP less ETP Tax is showing on our Year - to -date verification report, as $2190.58

Is this correct ?  We thought it should be showing as $1818.18 ?

 

If it should be the $1818.18 do you know what we have done wrong ?  We have entered the according to the MYOB instructions to set up the ETP - Tax withholding as per attached file.  

 

If we are doing incorrectly, how we alter in MYOB?  Then do we need to run a new payrun ? 

 

Please treat this as urgent!

 

Thanks in advance for your help!

 

Kylie 

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