PAYG Tax

Hi, I have just had a new employee question the tax on her Payslip, and when I have checked it, the tax amount is around $120 more that I have calculated. This led me to check some of the other employees and the Reckon calculation is much higher than I calculate using the ATO and numerous other calculators. I am using Reckon Accounts Hosted.

Best Answer

  • Bruce
    Bruce Member Posts: 441 Professional Partner Professional Partner
    Answer ✓

    I have consistently found the PAYG amounts calculated by Hosted to be correct. Invariably the variances I have experienced have arisen because the set up of employees/payroll items in the system has been incorrect

    The sorts of things I would be checking are:

    • set up of any salary sacrifice supn
    • making sure correct tax code is used for employees
    • making sure employees are not being incorrectly treated as having HELP debts


Answers

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,395 Reckon Accounts Hosted Expert Reckon Accounts Hosted Expert

    The PAYG will calculate according to your setup. As Bruce has stated, if the calculations are consistently incorrect, this will be due to how your Employees’ Tax info &/or Payroll Items have been setup/configured.

    Shaz Hughes Dip(Fin) ACQ NSW, MICB

    *** Reckon Accredited Partner (AP) Bookkeeper - specialising EXCLUSIVELY in Reckon Accounts / Hosted ! ***

    * Regd BAS Agent (No: 92314 015)* ICB-Certified Bookkeeper* Snr Seasonal Tax Consultant since 2003 *

    Accounted 4 Bookkeeping Services

    Ballajura, WA

    shaz@accounted4.com.au

    https://accounted4.com.au

    (NB: Please give my post a Like or mark as Accepted Answer if I have been able to resolve your query as this helps others when seeking solutions!)
  • crankins
    crankins Member Posts: 13

    HI, Thanks for the assistance, problem solved. It was in the Superannuation setup