Create Tax

Owned by Former user (Deleted)
Last updated: Dec 31, 2019 by Infinet Support (Unlicensed)

Use the Tax Pay Component to create tax payments for a fixed amount.

Important!

If an amount is entered, then that amount is in addition to standard tax, but if a percentage is entered, then it will override the standard tax rates. 

Employee Setup Guide

Field DescriptionManual PAYG (extra payment)
Manual PAYG (different %)
Pay Component TypeDefaults depending on the button selected on the employee recordTaxTax
Pay Component Sub Typeselect ether salary or wages.  This will affect how timesheets appear in the pay run.  Manual PAYGManual PAYG
DescriptionDefaults from pay component sub typeManual PAYGManual PAYG
UOMDefaults from pay frequencyMonthMonth
Quantityif you enter 0 you will need to enter the number of hours during the pay run1
Rate
 		Amount you want to pay per pay frequency$500
AmountQuantity * Rate$500
Amount Per PeriodAmount / Number of Periods$500
 
Is PercentageSignifies if the calculation is based on a percentage and may need recalculating on pay slipsUnmarkedMarked
Percent TypeAvailable if you select Is Percentage
Taxable Income
PercentageAvailable if you select Is Percentage
25%
PayeeSelect the Vendor that will receive this paymentAustralian Taxation OfficeAustralian Taxation Office
Balance Sheet AccountDefaults from the vendor selectedPAYG PayablePAYG Payable
Start DateStart date that this pay component becomes valid01/07/1601/07/16
End DateLeave blank or enter end date if variation is valid for a set period only.
30/06/17
DepartmentEnter if required

ClassEnter if required

LocationEnter if required

Range AmountEnter maximum amount – when reached it won’t deduct any more

ReferenceReference number from ATO – and attach file

CurrentMarkedMarkedMarked
Loading Rate


 Click on Save


To add another Pay Component, go back to step 11. Add Pay Components.

Or, move onto step 12. Finish Up.