From 1st July 2009, new income tax rates take effect so you will find more money in your pay packets.This also means that as an employer, you will need new tax tables to correctly calculate the amount of income tax to withhold from employee salaries and wages.
You may obtain the tables relevant to your needs from the Australian Taxation Office, or you may download them from the ATO website www.ato.gov.au or our website, www.sylviatroccoli.com.au under Resources.
If you own a rental property or if you have an allowance (car or travel) you can further reduce your tax on a fortnightly or monthly basis by applying for a PAYG Withholding Variation for the current year (2010).
Should you need assistance with updating your computer accounting packages or if you have any questions of both of the above matters please do not hesiate to contact our office on (02) 9585 8444 if you have any questions on either of the above matters
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