MYOB® payroll software normally allows for 33 different tax tables. With the introduction of the Flood Levy for the 2012 income year, the Australian Tax Office (ATO) has added about 28 additional tax tables, 33 which include the levy, and the others which exclude the levy for those who are exempt because they were directly affected by the floods. This has created considerable difficulties for all payroll software providers and will require substantial coding changes.
We at FGHTables have considered the best way of handling the new tax tables so that those who choose not to upgrade their software can continue to use their existing versions of MYOB® with the correct tax rates. We have decided to offer 3 options for 2012. While none of the options will give full functionality (that is all 61 tax tables), we believe all users will find one option that will work for them, depending on the circumstances of their employees.
Note: All employees have to pay the Flood Levy unless they complete a special exemption declaration which is available from the ATO (see links below). All tax tables have been designed to ensure the Flood Levy component only applies above a certain income level, as people earning less than $50,000 per annum do not pay the levy.
Option 1 is the correct choice for most employers (where no employees complete exemption declarations). If you have apprentices, casuals, part-timers who earn less than $50,000 in a year, and/or employees who earn over $50,000, Option 1 will give you the correct PAYG figure.
Option 2 is for a limited number of employers in Queensland and northern NSW where all employees complete flood exemption declarations.
Option 3 is for employers who have some (but not all) employees who will complete a flood exemption declaration.
See below the details of the tax tables that come with each option:
