NSW State Payroll Tax threshold showing the incorrect amount in QuickBooks 2011/12

Legacy KB ID: 4186

Question

Why is the NSW State Payroll Tax threshold showing the incorrect amount?

Answer

The NSW Government announced changes to the Payroll Tax threshold levels after the QuickBooks 2011/12 Tax Table Update was finalised, so the threshold level in QuickBooks is incorrect, still showing the levels applicable in 2010/11. 

For the 2011/12 financial year the correct levels are:

• threshold:  $678,000 annual and $56,500 flat monthly;
• tax rate: 5.45%.

A patch has been prepared to update the NSW Payroll Tax table. 

Detailed Steps

1. Close QuickBooks

2.    Note the location of your Quickbooks Installation folder:

a.    Right-click on your QuickBooks short-cut;

b.    Left-click on Properties

c.    Left click on Find Target

The address bar will show where your folder is located.  The default location is C:\Program Files\Intuit\QuickBooks 2011-12\

1. Click on this link https://library.reckon.com.au/library/exe/NSW State Payroll Tax 2011-12.exe  to download the patch and save to a location on your PC (like your Desktop or special folder for downloads)

4.    Run the application:

a.    Windows 7 & Vista:  right-click it and select Run As Administrator

1. Windows XP: double click on the application
1. Select your QuickBooks Installation folder in the Destination folder field
2. Click on Install.  (There is no notification when the process is complete)
3. Open QuickBooks and check calculations:  Threshold should be 56,500 per month and percentage should be 5.45%