Reckon Accounts tax update is now available!

Rav
Rav Administrator Posts: 12,169 Community Manager Community Manager

RECKON ACCOUNTS 2022/23 TAX UPDATE IS NOW AVAILABLE!

Reckon Accounts 2022 tax update is now available for you to install. This update will ensure you remain compliant and breeze through the 2022/23 financial year with the following:

2022/23 PAYG Tax Tables

Changes to income tax tables will take effect from 1 July 2022, including the study and training loan repayment thresholds and rates. The new tax rates are automatically calculated so you are always paying the correct amount.


Removal of Superannuation Guarantee threshold

The ATO has announced the removal of $450 per month threshold of superannuation guarantee as of 1st July 2022. To learn more about this click here.


Superannuation Guarantee default rate increase

The ATO has announced an increase to the default superannuation guarantee rate as of 1st July 2022, from 10% to 10.5%. Reckon Accounts 2022 contains this update.


To find out all the new features and enhancements, click here.


INSTALLING THE NEW TAX UPDATE

Please follow these steps to install the Reckon Accounts 2022 tax update.

  1. Ensure you have installed and activated your copy of Reckon Accounts 2022 (the tax update cannot be installed on earlier versions of the software). If you have not installed Reckon Accounts 2022, log in to the Members Site to access your installation key code and download now.
  2. Read and follow the instructions in the upgrade guide for important guidelines on when and how to install the update.


Important!

The new tax tables and superannuation rate & threshold changes take effect from 1 July 2022. You must process employee pays for the 2021/22 financial year prior to installing this update. 

Once the tax update is installed and your data file is opened, you will not be able to re-open your file in the earlier version of Reckon Accounts.


We're here to help

We've also extended our support hours from 22 June to 8 July 2022 to assist you during the EOFY period. Don't forget to check out our EOFY Hub - it's packed with resources to help you through this busy time!

This discussion has been closed.