For most employees, a tax rate can be a selection from the options provided by the ATO. Others may need to create a customized tax table.
If you require a customized tax table, you can set it up as follows:
- In the Wagemaster, click Setup > Tax > Tables.
- Click Add.
- The Add Tax Table Details window will display.
- Description: Type a meaningful name in the description e.g. 20% tax.
- Weekly Earnings (x) Less Than $: Type a large figure in the weekly earnings(x) Less than $ box e.g. $99,999.99
- a: Type the percentage figure that you require as the employee’s tax rate in box a (for example 0.20) for 20% tax. Leave b empty.
- Click OK to complete.
Continue to the next step: Setup Bank Accounts