Why does the calculated Tax in Reckon Payroll App differ from the tax amount determined in ATO table

faigey
faigey Member Posts: 66 Reckoner Reckoner
edited January 2024 in Reckon Payroll

Example:

2023 F/Y - Reckons Earnings & Leave = $7500 per month; Allowances = $0.0; Deductions =$0.0

Results in Tax = $2245.00 and Net pay = $5255.00 and Superannuation = $787.50

VS

2023 ATO tax tables $7500 per month; Allowances = $0.0; Deductions =$0.0

Results in Tax = $1793.00( $1643 tax+ $150 medicare) and Net pay = $5707.00 and Superannuation = $787.50

Best Answers

  • swakhlu01 .
    swakhlu01 . Member Posts: 366 Reckon Star Reckon Star
    Answer ✓

    @faigey you may need to make sure the employee setup in Reckon is the right category to claim tax free threshold

  • faigey
    faigey Member Posts: 66 Reckoner Reckoner
    Answer ✓

    Thank you for your answer. It works correctly now.

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