Reckon One tax update is live!

Rav
Rav Administrator Posts: 12,614 Community Manager Community Manager

Reckon One tax update for 2022/23 is live!

Login in now to breeze through the 2022/23 financial year with the following updates.


2022/23 PAYG tax tables

Changes to income tax tables will take effect from 1 July 2022, including the Student Loan repayments. Reckon One will automatically choose the 2022/23 PAYG tax tables when you create the first pay run from 1 July 2022, so you are always paying the correct amount.


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 One contains this update.


Warning alert when processing superannuation

A new warning message has been added as a reminder to pay super, when an employee who's less than 18 years old has worked for more than 30 hours in a week. To learn more about this new introduction check out info from the ATO here.


Removal of superannuation guarantee threshold

The ATO has announced the removal of $450 per month threshold of superannuation guarantee as of 1st July 2022. Reckon One has been updated to accommodate this. To learn more about this check out info from the ATO here.



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!