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MYOB – 2014-2015 new Tax Tables for compliance - July 2014
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Published on Monday, 07 July 2014 17:01
Do need the new payroll Tax Tables for 2014-2015 for compliance reasons, because either MYOB says you have out of date tax tables, or you know they are. (To find what you have, click Set Up then General Payroll Information. In about the middle is the table date at the start of that tax year). The problem is that tax tables become out of date each year as tax rates and/or Medicare and HECS thresholds change. MYOB accounting plus etc only supply new tax tables via full software annual subscription. They don’t supply the latest tax tables as separately available. Users must upgrade to a new version or take out Cover under their support program to receive the latest ‘pay2myob.bin’ file (MYOB) to keep payroll compliant. (If you want to upgrade, email us –
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).
The special MYOB tax file has been specially formatted disallowing any manual edit it, as the tax rates change from year to year. Additionally, each version is formatted specially, so you can’t use a tax file formatted for MYOB Version 19 with say Version 16.
With the Mac version (AccountEdge®) the tax table file is called MYOB Tax Tables or in v9 to 9.6 has a “.tax” extension. Everything else though is the same and all the comments here apply equally to the Mac version. Note third-party tax tables cannot be used in MYOB 2011 onwards – you MUST have subscription or upgrade. Contact to determine your needs, no obligation. 0407 361 596.
There is a Solution up to MYOB v19.9 – Third party updated tax tables available for $68.20 (see further for details) provide a substitute, have been tested and work with many prior versions. They are for those who want to continue to use their current versions of MYOB® without the need to upgrade. Note that there is nothing in your license agreement that prevents you using 3rd party tax tables.
Installation is simple. The tables are supplied with easy to follow instructions and instantly downloaded after payment in most instances, or will be emailed to you. You also receive a PDF copy of the applicable Aust Tax Office Weekly Tax Table for you to check the accuracy of the calculations. After-sales email support is available for any installation or setup issues you may encounter.
Note - NO changes are made to the software. The only changes made are to the tax rates in your company data file that the software calls upon to calculate PAYG Withholding in a pay, when processing payroll. The changes made are not permanent and can be reversed by reloading the tax tables from your current tax table file, simply moving a file in the software folder
These third-party tables are available now, which Account Keeping Plus have tested in the MYOB software and against the ATO tables and work perfectly for us and several of our clients. To get more details and purchase for your MYOB - find out HERE.
Need help? Not sure? Call for FREE 30min advice / strategy session today!
Call 0407 361 596 Aust and also get FREE “Avoid these GST mistakes” – There’s 18 that the Tax Office see regularly – Get them right! Email
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or call 0407 361 596 Australia
