Known Issue - Preservation Tax ETP Lower Tax Component incorrectly labelled

The following issue has been identified and subsequently replicated by MYOB Support in the Australian release of Exo Employer Services version 2013.01 and PowerPay version 8.10.

Issue

Support have confirmed when entering ETP details for an employee that meets the Preservation Tax guidelines via the ETP utility, the lowest tax rate option is displayed as 31.5% whereas the online ATO calculator indicates the rate should be 16.5%.

The issue is a labelling issue as Exo and PowerPay do not calculate the tax. If a user puts the 16.5% tax amount in the 31.5% ETP utility field the tax is recorded correctly on the ETP report.

Workaround

Enter the 16.5% lower ETP tax value in the 31.5% field.

Resolution

Service Management Record 12798619926 has been created for this issue and has been resolved in the Exo ES 2013.02 service pack release for Exo. Issue has not been resolved for PowerPay.