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The government has finally passed the changes to the income tax rates for the 2016-17 financial year.

If you withhold tax from payments to employees you will need to start using the new tax tables from 1 October.

If you process your payroll through a software package like MYOB, Reckon or QuickBooks you will need to update your software for the new tax rates - you may need to contact your software provider for assistance with this.

If you process your payroll through an online service including ADP, Xero or MYOB Essentials, the updates will be made automatically.

If you process your payroll manually, you will need to access the new tax tables from the ATO website:

2017 tax tables

If you need assistance with your payroll, please contact us.

From The Macro Group Team

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