Tax Table Update – October 2020
TAXTABLE.CSV – CSV Download
EOY20AU-OctoberTaxTables.pdf – PDF Download
The Import Manual above – EOY20AU-OctoberTaxTables.pdf contains detailed steps for importing and checking your tax tables after importing. Please download and read through the steps before proceeding.
- Right Click on the above TAXTABLE.CSV file and choose ‘save file’ or ‘Save As’ and save the file into the tempsys\MASTER folder. Do not open the file.
- Answer ‘Yes’ to overwrite existing file.
- Have all Users logout and take a backup
- Select System -> System Control -> Automatic File Loading and select “Tax Table Maintenance”. Leave all other items not selected and click Install.
- You must now check all tables to those printed in the End of Year Notes (page 7 of the PDF). When satisfied that all tables are correct, backup again and allow all Users to login.
- Repeat the previous 2 steps for all active groups (you should not need to re-download the file).
- Do not open the file in Microsoft Excel – this will corrupt the file.
You should apply these tax tables to your software before making any payments from 13 October 2020 onward.
Since the changes to withholding are made part way through the income year, employers who are unable to immediately import or enter in these changes will have until 16 November 2020 to do so.
However we recommend you do this procedure immediately to ensure your employees benefit sooner from the tax cuts.
If you unable to import these tax tables immediately any ‘over-withholding’ that occurred prior to the you importing the tax tables will be included in the tax assessment of the employee at the end of the income year.