The payroll tax tables have been released for the 2021 financial year (01 July 2020 to 30 June 2021). You can find a link to download the tax tables and instructions on how to apply them below.
1.Download
The 2020 tax rates can be downloaded from the following location. The file is called TaxRates.txt
Download the 2021 Tax Rates Here:
To Download:
- Click on image above
- Select Download option
- Save the file to your preferred directory
2.Install
IMPORTANT
This step should only be performed once you have completed all pays for the 2020 payroll year.
If the tax rates are applied before the last pay is completed, then the 2021 rates may apply incorrectly to the 2020 financial year.
After downloading the tax rates file, the new rates can be loaded into Synergetic:
- In Synergetic, go to Payroll > Load Tax Rates
- Use the browse button to navigate to the location that you saved the TaxRates.txt file
- Select the file and click 'Open'
4. Confirm that the file path is correct, then click 'OK'
5. Confirm that the message mentions “01 July 2020 (FY 2021)” and then press 'Yes'
The tax rates will load and Synergetic will be updated with the new figures ready to use in your first 2020 pay.
Ensure that you have rolled your payroll into the 2021 financial year (Payroll > Create Next Payroll Year) before creating your first pay in 2021.
STP (Single Touch Payroll) EoY Process Information:
We have a free webinar (recording) available that goes through the process for finalising the payroll year along with a detailed FAQ. You can find this here:
Questions?
We are happy to assist if you have any questions regarding the above information.