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
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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
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Answers
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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
(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!)
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HI, Thanks for the assistance, problem solved. It was in the Superannuation setup
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