This could be important for anyone using Payroll:
Extract from ATO Website:
At the time of calling the Federal election, the income tax changes announced in the Budget had not been enacted by Parliament. As a result there will be no change to the majority of tax tables from 1 July 2016. The tax tables that have been updated are for HELP/SSL/TSL and SFSS due to the annual indexing of repayment amounts, and the Superannuation and ETP tax tables to include indexed cap amounts for the 2016-17 income year (where applicable).
End Of Extract
Full Document Here:
So if the 2016 tax update has been installed, will Reckon be calculating tax incorrectly ? Is a new Reckon Tax Update needed ?