On unlocked pay runs you are able to adjust PAYG.
To adjust PAYG you need to:
Open the (unlocked) pay run and click on the employee for whom it applies;
1. Click on the ACTIONS option > Adjust PAYG:
2. When you click the 'Adjust PAYG' option, a new line will show in the dialog box that says 'PAYG Adjustments';
3. You are able to make notes for the PAYG adjustment;
4. You are required to enter the dollar amount that you wish the adjustment to be for:
Note - As of 1 July 2019, amounts withheld for study and training loans (this includes HELP/SSL/TSL and Student Financial Supplement Scheme) will be amalgamated into just one amount to be withheld. This amount will be calculated using the new Study and Training Support Loans tax tables.
This will be applicable to pay runs with a paid date on or after 1 July 2019. In any pay runs with a paid date on or before 30 June 2019 the HELP & SFSS amounts will still be withheld.
For pay runs with a paid date on or after 1/7/19, the STSL column will be displayed. For pay runs with a paid date prior to 1/7/19, the HELP and SFSS columns will be retained.
Additional STSL payments
If any employee wants to make additional STSL payments this can be done via the PAYG adjustment. We separate out STSL and PAYG in the pay run and some of our reports for reference only, you cannot specifically pay extra tax that will be applied against an STSL debt. The two types of tax (PAYG and STSL) are not "separated" at the ATO until the end of the financial year - they are reported as one lump sum as per ATO specifications. At the EOFY the combined PAYG and STSL is considered to be one "tax paid" total.
The ATO will work out how much PAYG should have been withheld from the earnings in the financial year and then any tax left over from the total amount paid in the financial year will be applied against an STSL debt - at that point, the employee will have the option to apply additional tax withheld to the debt rather than be refunded the amount.
Note: The Pay As You Go Withholding is calculated based on the three factors: Gross Earnings, Pay Schedule and Tax File Declaration. QBO is strictly aligned with the Australian Tax Office's tax table. Should you need further reference on the ATO's Tax Table, we strongly suggest you contact ATO Support.
