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Providing tax tables since 2010.

We are an Adelaide based supplier of PAYG tax tables for MYOB®. All our tax tables are compatible with the specified MYOB® versions.

Our tax tables have not been endorsed and are not supported by MYOB Australia - MYOB would much rather you upgraded or subscribed to Cover or AccountRight Live.

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The Payroll Year

End of Year process
Starting a New Payroll Year
Reversing the process
Adjusting Payroll errors
Payment Summaries
See here for more info

MYOB®, Accounting Plus™, Premier®, AccountRight Plus™, Premier Enterprise®, AccountRight Premier™, AccountRight Enterprise™ and AccountEdge® are registered trademarks of MYOB Technology Pty Ltd

All prices are GST inclusive

FGHTables

When should you Load the 2017/18 Tax Tables

The end of financial year is a very busy time for many businesses. Payroll is one of those things that must be done within certain time constraints. Users often ask 'when is the best time to load the new tax tables?'

When processing Payroll, MYOB® will use whatever tax tables are currently loaded in the company file. The tax rates in the new tables apply from 1 July 2017. You should continue to use your current tax tables until then.

The best time to update is after your last payroll Payment Date in 2016/17 and before your first payroll Payment Date in 2017/18. Whether you load the new tax tables before or after you Start a New Payroll Year makes no difference (unless you are using AccountEdge®).

There is also the issue of Payment Summaries and Starting a New Payroll Year which can also raise timing questions.

The best way to explain the recommended approach is by way of an example.

Let's say you pay your employees on a fortnightly basis, and you pay the employees on the Tuesday after the end of each fortnight. In our example your last payroll Payment Date in the 2016/17 year will be on 20 June 2017 for the fortnight ended 18 June 2017. The next payroll Payment Date with be on 4 July 2017. Even though part of this pay period includes the 2017/18 year, employees are taxed on the date they are paid, so all of this pay will be taxed at 2017/18 rates.

  • 20 June 2017 - final pay for 2016/17
  • Prepare Payment Summaries (save PDF copies) and EMPDUPE file - see
    2017 Payment Summaries
  • Do a backup of your company file called '2017 Payment Summaries' or similar
  • Start a New Payroll Year
  • 4 July 2017 - first pay for 2017/18

The tax tables can be loaded anytime between 20 June 2017 and 4 July 2017 (that is after your last pay for 2016/17 and before your first pay for 2017/18).

Note that you cannot process your 4 July 2017 payroll until you Start a New Payroll Year. Starting a new payroll will clear all 2016/17 Payment Summary data stored in the file in preparation for the 2017/18 Payment Summary data. This is why it is important to do a backup just in case you need to re-do the 2016/17 Payment Summaries for any reason.

For those interested, MYOB's 2017 End of Payroll Year Guide can be accessed here.



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Last updated 5 June 2017