State Payroll Tax thresholds and rates incorrect in Payroll Premier 2011/12

Legacy KB ID: 4196

Question

Why are the NSW Payroll Tax Payable threshold and rate and the Victorian rate showing the incorrect amount?

Answer

Currently the New South Wales State Payroll Tax threshold and rate, and the Victorian rate are incorrect in Payroll Premier 2011/12 and therefore the Payroll Tax Payable field on the Payroll Tax Report will calculate an incorrect amount. 

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

  • NSW threshold:  $678,000 annual and $56,500 flat monthly;
  • NSW payroll tax rate: 5.45%
  • Victorian payroll tax rate: 4.90%.

 

 

Workaround

Before you commence, create a backup of your company file.

To adjust the NSW threshold and rate: 

  1. Lists > Payroll Tax Scales > NSW Payroll Tax
  2. Highlight the first line of the Threshold column and change 623000 to 678000
  3. Highlight the second line of the Threshold column and change Over 623000 to Over 678000
  4. Highlight the second line of the Multiplier column and change 0.0575 to 0.0545
  5. Click OK to save changes.

 

To adjust the Victorian payroll rate: 

  1. Lists > Payroll Tax Scales > VIC Payroll Tax
  2. Highlight the second line of the Multiplier column and change 0.0495 to 0.0490
  3. Click OK to save changes.

 

How did we do?

Salary Sacrifice is transferred to Reckon Account together with Gross Wages

Time in Lieu Report shows only the first entry

Related Articles

NSW State Payroll Tax threshold showing the incorrect amount in QuickBooks 2011/12
State Payroll Tax Detail Report displays employees in wrong states in QuickBooks 2011/12
NSW State Payroll Tax Rate update for 2022
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