TAX TABLE FOR 2022/2023

Rachael Bonello
Rachael Bonello Member Posts: 48 Reckoner Reckoner
edited May 2022 in Reckon Accounts (Desktop)

Good Morning,

When will the tax table for the NEXT financial year be available? Will this automatically correct Super for the $450 per month threshold that is being removed? Or is it something that we will have to fix manually if this makes sense at all?

Thankyou!

Comments

  • Rachael Bonello
    Rachael Bonello Member Posts: 48 Reckoner Reckoner

    Also this is for Reckon Accounts Plus 2022.

  • Rav
    Rav Administrator, Reckon Staff Posts: 14,222 Reckon Community Manager Community Manager

    Hi @Rachael Bonello

    Our team is putting the tax table update through testing at the moment and is scheduled to release in the second half of next month.

    It will accommodate changes to the Super thresholds including the default rate increase and minimum threshold removal. We'll have more info on this including guides coming very soon so stay tuned.

  • Zappy
    Zappy Accredited Partner Posts: 5,256 Accredited Partner Accredited Partner

    Some time after the ATO produce the withholding schedules I would imagine. Theyre not known for their efficiency. Its the way it usually goes

  • Acctd4
    Acctd4 Accredited Partner Posts: 4,216 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert

    @Rachael Bonello Just to clarify … they’re 2 separate areas - the tax calculation is independent of Super calculation.

    Reckon usually releases the new FY tax update in late June. Previously, this release has also included an automatic update to the rate on your Super Items ☺️

    Shaz Hughes.png

    Email | Website | Google Reviews | Facebook Reviews

  • Rachael Bonello
    Rachael Bonello Member Posts: 48 Reckoner Reckoner

    Thankyou everyone! Much appreciated

Categories