Update your small business payroll software – new PAYG tax scales out nowTim Covark
The ATO has issued new PAYG tax scales which become effective from 1 October 2016. This will affect all businesses with employees and will require you to update your small business payroll software.
There are also some minor fixes to Cashflow Manager, Invoice Manager and Wages Manager included in the update. We recommend all Cashflow Manager users download Version 10.0.2.0.
Download the latest accounting software, and select the product you are updating from the ‘Latest Versions’ section, then click ‘Download Now’. Once downloaded, run the file and follow the prompts to install.
If you have already installed Version 10 the update will just load over it and the Version 10 icon will now open version 10.0.2.0. You will not need to unlock the program. If for any reason you need to re-install and unlock in the future just use your existing version 10 CD Key.
Staying on top of updates is extremely important especially if you have employees. With this tax table update taking place it is also a great time to make sure your other payroll details are still correct.
1. Check that employee details are up to date such as address, phone number and banking details.
2. Make sure you have their correct tax file number
3. Ensure superannuation details are correct
4. Make sure you have SuperStream reporting ready to go for your first report which is due in October 2016. Both our Cashflow Manager GOLD and Wages Manager are SuperStream compliant.
In accordance with the Tax Agent Services Act 2009 (TASA) Cashflow Manager is not a registered entity and cannot provide taxation advice. You should consult with your accountant or other registered tax adviser for any queries relating to taxation matters.