Incorrect etp concessional tax rate
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James_9946555
Member Posts: 1 ✭
I am in the process of setting up Reckon Payroll Premier 2018/2019 so as to be STP compliant. I have chosen to re-enter pay details from our old system back to the start of the financial year and this includes termination of an employee.
When I use the termination wizard (not sure about this name!), it uses a concessional tax rate of 32% instead of the correct 17% required for an employee past preservation age so too much tax is deducted. I can't find a way to override the tax rate. Any ideas?
When I use the termination wizard (not sure about this name!), it uses a concessional tax rate of 32% instead of the correct 17% required for an employee past preservation age so too much tax is deducted. I can't find a way to override the tax rate. Any ideas?
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Comments
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I tried terminating an employee in the example Quick Computing Solutions and this was the result which seems to indicate the result is in line with ATO guidelines:
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