Payroll not calculating tax correctly

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Rob Ritchie
Rob Ritchie Member Posts: 1 ✭
edited April 2020 in Reckon One
Hi,
not sure what i have done wrong. I have read the help forums and tried looking at my settings.

I am using Reckon One - I'm trying to setup payroll for the first time. Its a fairly simple one employee payroll. 
that employee is a salaried employee 72k per year. They do have a help debt and i am also contributing super on top of that amount.
ATO tax calcs etc show a variance. Reckon is deducting  additional tax of around 1% tax of total earnings in the period.

I have gone through all of the pay items again (at this stage regular time earnings and super) and checked the settings. They all appear correct.

The employee currently has Qty of 12 and $6000 per period and 72000 as total salary. 

Your help in directing me to where my settings might be done incorrectly would be most appreciated.

This is for a 2018-2019 payment.
 

Comments

  • Kwikbooks (Professional Partner)
    Kwikbooks (Professional Partner) Member Posts: 824 ✭✭✭
    edited April 2020
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    Hi Rob

    There were another few posts where the 'help debt' tax was wrong in Reckon.

    There were no changes to the tax tables from 2019 to 2020 except perhaps help debt as someone else posted, this threshold did change.

    However in your case R1 may have updated the tax tables already it is inbuilt, and you are trying to do a last year payment which should be on the old tax tables.

    Go back to one of his previous $6000 monthly pays and see what tax was deducted or look up last years help debt tax tables on the ATO website and manually override the tax deducted.

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