This article is for Wagemaster users to update their existing tax tables.
The tax tables need to be updated for the new financial year, this article is not yet updated with the new tables please look out for communications when the tables are released.
The new tax tables apply to payments made on or after 1 July 2022. The tables are dated 01/07/2022 and will calculate tax at the new rates for wages processed after Wagemaster has been updated with this pdl.
The update should only be performed only if you did not do the update last year.
Tax changes included from 1 July 2022 are:
Termination Tax - Bona Fide Redundancy and Early Retirement Scheme Treatment.
Initial Base Tax-free Amount increasing from $11,341 to $11,591 and the Additional Tax-Free Amount for Each Year of Service increasing from $5,672 to $5,797
Termination Tax - ETP.
ETP Lower Cap Amount increases from $225,000 to $230,000
Study and Training Support Loan (STSL) thresholds for all STSL tax tables; previously called HELP/HECS
Download And Install The PAYG Tax Tables
Prior to installing the tax tables, you will need to ensure your Wagemaster is up-to-date by downloading and installing the latest version.
- Click on the link below to download the Tax Table from 01/07/2022 onwards:
Tax Tables_2022-23 (Do not open it, upload it as per the steps below).
- It may download directly depending on your browser download settings in the bottom left corner or top right corner, right-click and click on Show in folder.
- Or you may be taken to the page with the download option, click the Download button.
- Or the Save As window appears if your browser settings are not set to auto download the attachments. Save the file onto your desktop in this option (if you choose to save it elsewhere, make sure you remember the exact location). Remember the location where it downloads.
- Follow the instructions below to update the tax tables in your Wagemaster file.
Update The PAYG Tax Tables
- In the Wagemaster application, click on Setup and select Associations.
- The Associations window will be displayed. Double-click on Tax Tables.
- The Edit Association Details – Tax Tables screen appears.
- Select the Internet tab, then tick the Tax Tables & Rebates box. Ensure that the other options are not selected. If they are, click into those boxes to deselect. Click on the Update Now button.
- The Update Association Data Wizard will be displayed. Click on Next.
- At the Update Data Source window, select Load from disk file. Click on the ellipsis (the 3 little dots) to locate the saved tax tables file.
- At the Open window, click on Desktop. (If you have saved the file elsewhere, click on the dropdown arrow in the Look in field to find the location).
- Using the scroll bar on the side, scroll down till you see the saved tax file. Select the file named Tax Tables 2021-22 Updated.pdl.
- Click Open.
- The Update Data Source window appears again with the file path (the location where the file is saved) added to the Load from disk file field. Click Next.
- The Finish Update Data Wizard window appears. Click Finish.
- You will end the update process with the Finish Update Data Wizard window. Click Close to end.
Verify Update Of Tax Tables
To check if your tax tables have been updated successfully:
- Change your PPE date to the first fay run in the 2022/2023 new financial year by clicking on PPE: from the menu and selecting the first PPE date on the calendar in July (highlighted yellow in the example below) and verify if the tax tables have updated as per the instructions below.
- Click on Setup > Tax > Tables.
- At the Tax Tables window, check for 2021-22 (highlighted in the picture below) at the end of each tax table entry.
- Click on the most common Tax Table used > Edit and see if the rates have changed.
- Once you have confirmed that the tax tables are updated, you are ready to process your pay.
- Repeat the above steps for any additional files you may have.