Configuring Tax and Superannuation Settings for a Payments
Overview
Learn how to configure tax and superannuation settings for payroll payment types in Myaccountant. Easily control whether a pay item attracts tax or super to ensure accurate payroll and STP reporting.
Step-by-Step Instructions
- Access Pay Items Settings
- In the left menu, go to Payroll > Pay Items.
- Click on the Payment Types tab.
- Edit a Payment Type
- Find the payment type you want to configure (e.g. Allowance, Bonus, Leave Cash Out).
- Click the Edit button in the Actions column.
- Set Tax and Super Options
In the pop-up window:
- Apply Tax
- When selected, Myaccountant will calculate and withhold tax on this payment type.
- If unselected, no tax will be withheld.
- Apply Super
- When selected, superannuation will be calculated for this payment type.
- If unselected, the payment won't attract super.
For example: To set up a tax-free tool allowance, uncheck Apply Tax. If the allowance doesn’t require super, uncheck Apply Super as well.
- Click Save to apply changes.
Tips:
- Only disable tax or super if the payment qualifies for exemption under ATO rules.
- These settings apply to all pay items using the selected payment type.
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