MYOB Tax provides the ability to have PAYGI calculated based on the latest return lodged and provides access to the current year and the two immediate prior years' returns to pre-fill the balances required for the calculation. GDP-uplift for the current year is:
6% for entities whose financial year commences on or after 1 April
4% for entities whose financial year commences 1 January, 1 February or 1 March.
For the company return the worksheet calculates both the Commissioner's Rate and the GDP-Adjusted tax on GDP-Adjusted taxable income and GDP-Adjusted withholding income. Where the Company has a substituted accounting period, you should adjust the GDP uplift rate accordingly in the field provided.