PAYG Calculator
Exo Payroll includes a useful PAYG Calculator for calculating the Tax, Net Pay, Student Loan on any amount. This is selected from the Utilities menu or by clicking on the PAYG Calculator button on the toolbar.
Calculation As At This will default to today's date, and therefore the calculator will use the current tax tables. If you want to use a previous tax rate, enter a date for that period and the system will re-calculate the PAYG for that period.
Tax Classification There are several different scales, which are arrived at by the employee having answered the questions in the Employee Declaration form.
For Example:
- Scale 1: standard employee with tax free threshold not claimed
- Scale 2: standard employee with tax free threshold claimed
- Scale 3: non resident with TFN
- Scale 4: standard employee without TFN, alternatively a non resident without TFN
- Scale 5: standard employee with full Medicare exemption
- Scale 6: standard employee with half Medicare exemption
- Special Tax Rate: take tax as a percentage of earnings at the rate you specify
- Working Holiday Maker
If the employee is on a student loan repayment scheme, the "Standard Employee" option is extended to cover:
- standard employee with HELP
- standard employee with SFSS
- standard employee with HELP and SFSS
- Standard Employee with Student Loan
As of 1 July 2019, the "Standard Employee with Student Loan" option replaces the HELP and SFSS options. "Standard Employee with Student Loan" functions the same as the older HELP and SFSS scales, so there is no immediate need to update any existing employees who use the HELP and SFSS scales, but new employees with student loans should be set to the "Standard Employee with Student Loan" option.
The system automatically calculates PAYG using in-built coefficients supplied by the ATO.
Withholding Variation If the Employee is on a Withholding Variation, enter the % rate you want to tax this employee at, e.g. 20.00 for 20%.
Medicare Exemption If the employee is eligible for a Medicare exemption, select the type of exemption (Full or Half) here.
Claim Tax Free Threshold If the employee falls under the tax free threshold, tick this box.
Leave Loading Select whether or not leave loading applies. This option is only enabled when the Calculate As At date is prior to 1 July 2012.
Flood Levy Applied Select whether the 2011-2012 Flood Levy should be applied. This option is only enabled when the Calculate As At date is inside the 2011-2012 financial year.
Medicare Levy Surcharge If you have to pay the Medicare levy, you might have to pay the medicare levy surcharge (MLS) for an employee that earns above a certain income. Select this option if this applies to the employee.
Medicare Levy Reduction If an employee's taxable income is below a certain threshold, they pay a smaller Medicare levy amount. Select this option if this applies to the employee.
None If the Medicare Levy Surcharge or Medicare Levy Reduction options don't apply to the employee, select this option.
Have a spouse Select whether the employee has a spouse. This option is only available if you selected the Medicare Levy Reduction option.
Have dependent children Select whether the employee has dependant children. This option is only available if you selected the Medicare Levy Reduction option.
Number of dependant children If you selected the Have dependent children option, enter the number of dependant children the employee has.
Pay Frequency Select the employee's pay frequency.
Gross Pay Enter the amount of Gross Pay and press enter. The PAYG and Net Pay are calculated automatically.
Medicare Levy Reduction This is a calculated value and will only appear if the Medicare Levy Reduction option has been selected.
Medicare Levy Surcharge This is a calculated value and will only appear if the Medicare Levy Surcharge options has been selected.
Student Loan This is a calculated value and will only appear if the Standard Employee with Student Loan/Non Resident with Student Loan options has been selected.
PAYG (includes all above) This is a calculated value that includes the sum of all values in the Medicare Levy Reduction, Medicare Levy Surcharge and Student Loan fields.
Net Pay If you want to find the Gross amount from a Net figure, enter it here and the Gross Pay and PAYG will be calculated.