FGHTables

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 2026. You should continue to use your current tax tables until then.

The best time to update is after your last payroll Payment Date in 2025/26 and before your first payroll Payment Date in 2026/27. 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, two days after the end of each fortnight. In our example your last payroll Payment Date in the 2025/26 year will be on 23 June 2026 for the fortnight ended 21 June 2026. The next payroll Payment Date will be on 7 July 2026. Even though part of this next pay period includes the 2025/26 year, employees are taxed on the date they are paid, so all of this next pay will be taxed at 2026/27 rates.

• 23 June 2026 - final pay for 2025/26
• Prepare and lodge final STP report or prepare Payment Summaries (save PDF copies) and EMPDUPE file
• Do a backup of your company file called '2026 Payment Summaries' or similar
• Start a New Payroll Year
• 7 July 2026 - first pay for 2026/27

The tax tables can be loaded anytime after 23 June 2026 and before 7 July 2026 (that is after your last pay for 2025/26 and before your first pay for 2026/27).

Note that you cannot process your 7 July 2026 payroll until you Start a New Payroll Year. Starting a new payroll will clear all 2025/26 Payment Summary data (used for STP Reporting) stored in the file in preparation for the 2026/27 Payment Summary data. This is why it is important to do a backup just in case you need to re-do the 2025/26 STP Reports or Payment Summaries for any reason.

Note that if you use STP Creator for Single Touch Payroll Reporting directly from MYOB®, STP Creator can access the last Payroll Year data even after the Payroll Year has been closed.