Who wants to pay for myob tax tables?

2015/16 Tax Tables are now available. The FGH Website has been updated with the new tax tables that apply during the period 1 July 2015 to 30 June 2016. On 1 July 2015 the tax free threshold increases from $18,200 to $19,400 - announced in the Budget a few years ago. There are also changes to the HELP/TLS/HECS repayment thresholds as well as changes to where the Medicare Levy starts for those on low incomes. Updated tax tables that reflect … [Read more...]

How is Superannuation Calculated? On Ordinary Time Earnings.

Ordinary Time Earnings Ordinary time earnings are generally what your employees earn for their ordinary hours of work, including: over-award payments commissions shift-loading allowances bonuses Overtime payments Payments for work performed outside an employee's ordinary hours of work are not ordinary time earnings. This is so whether the payments are calculated at an hourly rate or the employee gets a specific loading, or an … [Read more...]

Tax Code to use when entering the purchase of imported goods

A recent question asked on the MYOB Community page by Allan was: Hi I am Using AccountRight V12.  When creating a tax code for a newly imported product for resale, do I use GST, N-T or IMP or other? I am using GST for resale and selling GST inclusive. thx Allan Hi Allan, In answer to your question I would suggest other, EXP follow the instructions in the screen shot. Export Sales have to be expliciltly listed on the BAS at G2, … [Read more...]

Income Tax Payment to the ATO

Rachel Joe posted a question on the MYOB Communities page in regard to how to record a tax payment to the ATO. Hi all I need to ask some questions regarding tax pid to ATO. 1..Regarding the general entry made at 30-6-2010 i.e   DR income tax paid, CR provosion for tax liability ,we estimate the figure .when the account is rolled over and actually the tax is paid, what should be done if the tax figure paid to ATO is more that estimated … [Read more...]