Understanding Taxation Processing

The Australian country extension to Global Payroll comes with all the elements required to calculate a payee's tax correctly. The system calculates taxes in a variety of situations, such as multiple payments within a calendar period, annualized tax, mid-period hires, retroactive taxation, and terminations.

As well as entering details about the pay entity (usually a company or organization), you must provide the Australian Tax Office (ATO) with TFN information. You need to enter and maintain tax-related information about each employee and submit statutory reports to the ATO.