(AUS) Setting Up Tax Calculation Options for Australia
Access the Australian Tax Options form.
- Additional Child Amount
Enter the amount that is claimed for each dependant child. This amount is used in the calculation of the weekly family threshold, which is used for Australian tax calculations.
- Weekly Earnings Threshold
Enter the amount of the weekly earnings threshold, which is specified by the Australian Tax Authority. This field is used in the calculation of the Weekly Levy Adjustment (WLA).
- Weekly Earnings Shade-in Threshold
Enter the amount of the weekly earnings shade-in threshold, which is specified by the Australian Tax Authority. This value is used during the calculation of a WLA.
- Medicare Family Threshold
Enter the amount of the Medicare levy family threshold that is specified by the Australian Tax Authority. This value is used in the calculation of the Medicare levy adjustment.
- SOP Multiplier (shading out point multiplier)
Enter the shading out point multiplier, as specified by the Australian Tax Authority.
- SOP Divisor (shading out point divisor)
Enter the shading out point divisor, as specified by the Australian Tax Authority.
- WLA Factor
Enter the weekly levy adjustment factor, which is specified by the Australian Tax Authority. This value is used in the calculation of the WLA.
- Medicare Levy
Enter the rate at which Medicare is to be levied as a percentage of total taxable income. This rate is specified by the Australian Tax Authority. This value is used in the calculation of the Medicare levy adjustment.
- Force Cents
Enter the cents value that the gross pay amount should be rounded to for the calculation of Australian payroll taxes. For example, if the weekly pay amount is 254.75 and the force cents is set to 99, the pay on which tax is calculated is 254.99.
- Weekly Rebate Percentage
Enter the percentage of the rebate that is claimed by the employee by which the tax installment is to be reduced at a weekly level. This value is used in the calculation of taxes for Australia.
- Supplementary Tax Rate
Enter the tax rate for extra emolument payments, such as bonuses.
- Cash Benefit Code
Enter the deduction, benefit, or accrual (DBA) that is used to manage the current period cash rounding amount.
- Cash Rounding Unit
Enter the lowest multiple that is used to pay payroll amounts in cash. For example, if you enter 10.00 as the rounding unit, the pay amount will be adjusted up to the next 10.00. In this example, a pay of 254.75 would be adjusted to 260.00. The adjustment of 5.25 would be deducted during the next pay period.
- Cash Deduction Code
Enter the DBA that the system uses to manage the recovery of the previous period cash rounding amount.