Updated tax table but employees paid already for last week

Dianne Poon
Dianne Poon Member Posts: 23 Reckoner Reckoner

Hi, I pay my employees weekly and the last pay date was on 18th October. This new tax update commences from 13th October. I am guessing I need to

1) download and install the new tax tables

2) unlock the employee payslip and manually change the tax amount, which may/may not be different

3) do the next weeks payslip ie 28/10 so I know how much to alter the last payslip by.

4) send a full file replacement STP for the previous payweek done on the 19/10

5) once that is successful, send in the new payrun STP for the pay on 28/10.

6) make any +/- $ changes to the pays to be sent to employees on 28/10.

Can you please confirm the above process is the correct way to go before I start doing anything.

Thanks

Welcome!

It looks like you're new here. Sign in or register to get started.

Comments

  • Dianne Poon
    Dianne Poon Member Posts: 23 Reckoner Reckoner

    Unfortunately it didn't cross my mind that new tax tables were coming in October which is why I went ahead and paid the employees. The tax difference is very slight, however if anyone can respond my above message I would be grateful. Thanks

  • Acctd4
    Acctd4 Accredited Partner Posts: 3,821 Reckon Accounts Hosted Elite Expert Reckon Accounts Hosted Expert
    edited October 2020

    I wouldnโ€™t worry about changing the last Pay purely for the new tax tables ... Employees will get any extra tax back that theyโ€™re owed in their 2021 tax return

    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

    shaz@accounted4.com.au

    https://accounted4.com.au

    (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!)
  • Dianne Poon
    Dianne Poon Member Posts: 23 Reckoner Reckoner

    Ok, thank you for replying. :)

Welcome!

It looks like you're new here. Sign in or register to get started.