Income Tax Rates changing on 1 July 2010
30 June 10
If you use published tax tables
From 1 July 2010 you need to use the new tax tables to calculate withholding amounts from these payments, even if the payment relates to a period before this date.
New tax tables are now available at
www.ato.gov.au/taxtables
If you are unable to access the ATO website, paper copies of the new tax tables can be ordered by phoning 1300 720 092 anytime. It will help if you have your ABN handy. Weekly and fortnightly tables are also available from most newsagents.
You can also calculate withholding amounts using a tax withheld calculator, available at
www.ato.gov.au by searching for '
twc newsflash'.
If you use a payroll system
As you are probably already aware, you need to have the new rates installed by 1 July 2010. If you use a commercial payroll software package, you may need to contact your software provider to obtain the necessary update.
If you need help understanding or implementing these changes, please don't hesitate to contact us.