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https://help.myob.com/wiki/x/T8GyAQ
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Maintenance in Tax Calculator
Not available in Accountants Office
These options are available for maintenance in Tax Calculator:
Back to What-if Calculator
Parameter Tables
Not available in Accountants Office
The default current and next year parameter tables are established in the Control Record in Tax Calculator.
The parameter tables are used for recording all general income tax rates and rebate/offset thresholds (resident and non-resident), for the current and subsequent year.
The default Master Tax Tables are used for the purpose of producing a Tax Estimate that will accord with the Notice of Assessment issued from the Tax Office.
The Master Tables may ONLY be edited where Legislation has been passed that increases or decreases a rate or threshold during the year and you have not received a Tax Update. You will be advised by MYOB Support in a step-by-step instruction to edit particular amounts should this be necessary.
How to access the Index of Parameter Tables
From the Tax select Maintenance > Tax Rates > Tax Calculator Tables or
From the Tax Calculator select Maintenance > Parameter Tables.
From the Parameter Tables index, you may:
Edit the details of existing parameter tables. Highlight the required parameter table and click Properties. Refer to Parameter Tables Properties.
Add new parameter tables. Click New. Refer to Parameter Tables Properties.
Delete any unwanted parameter tables. Highlight on the required parameter table and click Delete. Confirm the deletion by clicking Yes, or cancel the process by clicking No. A parameter table which is being used by any calculation cannot be deleted.
Exit from the index. Click Cancel.
Copy parameter tables. Highlight the parameter table to be copied and click Copy. Refer to Copying Parameter Tables .
You are prompted to save the existing parameter table under a new name and in this manner, create a new one.
List the index of parameter tables to screen preview, printer or print to file. Click List to display the Print screen. The listing provides the year and the description of the parameter table.
Print all or some details of a specific parameter table. Highlight the required table and click Print. Refer to How to print parameter tables.
Search and Replace a parameter table with a different table.
Click Auto change. Refer to Auto Change for more information.Update from Master: Selecting this option will replace the highlighted parameter table with the Master table. Generally, this would only need to be done if someone had inadvertently changed or deleted something in the Master table and the Estimates being produced in Tax were incorrect.
The Master Table should only ever be changed by a user if legislation has introduced new rates or thresholds and you have not received a software update from MYOB and have been instructed by MYOB Support to change a table.
Related topics
Parameter Tables Properties
Not available in Accountants Office
The Parameter Tables functionality is used for editing tax rates and rebate and offset thresholds and amounts to be used when calculating a Tax Estimate.
These tables must NOT be edited or changed unless instructed to do so by MYOB Support.
To access a Master Parameter Table
Click Maintenance > Parameter Tables > Properties.
Click the relevant tax rate which include:
Resident Tax Rates
Non-Resident Tax Rates
Non-resident Pacific Seasonal Tax Rates
Resident Minor Tax Rates
Non-Resident Minor Tax Rates
The General tab lists income bracket and tax rate:
Threshold $: This refers to the income bracket. Enter the upper threshold for each required income bracket.
Rate%: This is the percentage rate of tax applied on income between the brackets.
From the General tab select the Rebate or Offset amount or threshold for a resident or non-resident. Refer to General Tax Rates
Back to Parameter Tables
General Tax Rates
Not available in Accountants Office
A full set of tax rates is provided with Tax. These parameter tables are used for recording all general income tax rates and rebate/offset thresholds (resident and non-resident), for the current and subsequent year.
If you are required to edit a threshold or rate click on the field or select Edit and then [Tab] or [Enter] to the required field.
Offset for Residents
When adding or editing tax rates for residents, select the button to access the details of related tax parameters:
HECS-HELP, Trade Support Loan (TSL), Student Start-up loan (SSL) and SFSS Repayment Rates
Medicare Levy Details, Medicare Levy Surcharge (MLS) and Private Health Insurance rebate (PHIR)
Offset Buttons - Non-Residents
When adding or editing tax rates for non-residents, the only rebates available are the:
Not available in Accountants Office
To add or edit the dependant rebates:
Click Maintenance > Parameter Tables.
- The
Highlight the required table, and click Details.
Select the relevant category of tax rates for example, Resident or Resident Minors, and click [Enter].
- index is displayed.
- The relevant tax rates table is displayed.
Click [Dependant Rebates] to open the Dependant Rebates.
When all the rebate rates for each class of dependant have been entered, click [OK] to save the information.
Details recorded
The Dependant's Offsets dialog lists all classifications of dependant rebates. The appropriate details must be entered for each of the rebates:
the maximum offset for the class of dependant
the maximum Adjusted Taxable Income (ATI) which a dependant may derive before the offset cuts out
the percentage by which the offset is reduced for the excess above the basic Adjusted Taxable Income
Offset: This is the maximum offset available.
ATI: This is the base Adjusted Taxable Income above which the offset will begin to shade out.
Reduction%: This is the shading out percentage.
Back to General Tax Rates
Not available in Accountants Office
The Income Test thresholds table records the income thresholds that are applied to various tax offsets and other eligibility tests.
Back to General Tax Rates
Senior and pensioner Offset (SAPTO)
Not available in Accountants Office
To qualify for the age pension or SAPTO for self-funded retirees, both men and women must be 65 years of age. For those receiving the pension from Veteran Affairs, the qualifying age is 60 years of age for both men and women.
This index lists all the valid categories for all Australian Government and Department of Veteran affairs recipients, the properties of which contain the information necessary to calculate any applicable Offset having regard for the Transfer of the unused spouse portion and for eligibility for married people based on the combined adjusted taxable income.
Related topics
Senior and pensioner offset properties
Back to General Tax Rates
Senior and pensioner offset properties
Not available in Accountants Office
Code: This is a one character code to indicate the type of Australian Government or Department of Veteran Affairs pension received.
Description: Describes the marital status of the pensioner.
Offset: This is the maximum offset available.
Threshold: This refers to the threshold for taxable income above which the pensioner offset will be reduced and eventually shaded out.
Reduction: This is the percentage by which the offset is reduced for every dollar of taxable income in excess of the relevant income threshold for this pension rebate category.
Transfer Required: This is to indicate that any unused portion of the offset should be transferred to the spouse.
If the Transfer Required field is ticked the unused portion from the spouse will be used when calculating the taxpayer's pension offset.
For the unused portion to be calculated, the spouse's taxable income must be entered at the relevant spouse details item and the relevant code selected in the return.
Combined Taxable Income - Threshold: If the combined taxable income goes above this amount there is no entitlement to the offset.
Back to Senior and pensioner Offset (SAPTO)
Not available in Accountants Office
A Zone Offset can be claimed by people living in remote or isolated areas of Australia. These areas are divided into two categories: Zone A and Zone B.
In general, Zone A designates areas where isolation, uncongenial climate and high cost of living are more pronounced than areas designated Zone B.
Within each zone there are special areas which yield a higher rebate. These are called special zones. A special zone is generally an area where the nearest town or centre with a population of at least 2500 is more than 250 kilometres away. To qualify for a zone rebate, at least 183 days during the year must be spent in one or more zones.
These fields are listed for the Zone Offsets:
Special Zone A
Ordinary Zone A
Special Zone B
Ordinary Zone B
Overseas forces
For each zone rebate category, this information is shown:
the fixed amount for the zone rebate for the current financial year,
the percentage of the relevant rebate amount applicable to each zone rebate category.
Back to General Tax Rates
Concessional and Other Offset Details
Not available in Accountants Office
The Other and Concessional Offsets include:
Government Co-contributions
These details are recorded for the taxpayer.
Maximum Contribution: This is the maximum co-contribution the government will pay to the fund manager.
Threshold: This is the threshold for assessable income above which eligibility for the co-contribution is reduced and eventually shaded out.
Reduction: This is the reduction rate applied to the shade out threshold.
Government Contribution Rate: This is the % applied to the member's contribution to arrive at the Government dollar for dollar contribution.
Superannuation Contributions on behalf of a Spouse
Maximum Contributions: This is the maximum contribution a taxpayer may make on behalf of a spouse.
Assessable Threshold: This is the amount of notional assessable income the spouse can earn before the rebate begins to shade out. Notional assessable income is assessable income plus reportable fringe benefits.
Reduction%: This is the reduction rate expressed as a percentage. The rebate will shade out at $1 for every dollar in excess of the threshold.
Offset%: If the spouse contributions made are less than the maximum contributions, the offset will be the Offset% of the actual contribution made.
Low Income Earners
Offset: This is the maximum available rebate.
Threshold: This is the figure above which the rebate is reduced by $1 for every $4 of income in excess of this amount.
Reduction: This is the reduction rate expressed as a percentage.
Net Medical Expenses
Offset on excess: These are the percentage applied after the statutory deduction. These figures are indexed each year.
Related topics
Back to General Tax Rates
Not available in Accountants Office
These parameter tables contain the details of offsets related to:
Life Assurance Bonus and Friendly Society Bonus combined
Infrastructure Borrowing
Back to General Tax Rates
ETP/lump sum and Super Lump Sum Offset Details
Not available in Accountants Office
These tabs contain the percentage rates of tax that are applied to all of:
ETP Tab - Employment Termination Payments (ETPs) and Lump sum B amounts
Death Benefit ETP - Death Benefit Employment payments
Super Lump sum Tab - Superannuation Lump Sum Payments
Super Death Benefits Tab - Death Benefit Superannuation lump sum payments
Superannuation Income Stream Taxable Component - Annuities and Superannuation Income Streams
SIS Death Benefit Income Streams - Superannuation Income Stream Death Benefits
Back to General Tax Rates
Not available in Accountants Office
The ETP tab contains the concessional rates of tax that will be applied to the Employment Termination Payment in order to calculate any ETP offset available to the taxpayer.
Lump sum B Component: This is the percentage that is applied to the Lump sum B amount included in assessable income and taxed at marginal rates, with an offset to ensure that tax payable is limited to 30%.
Taxable Component: Is that part of the payment that is taxable as detailed on the ETP Payment Summary.
Under 55 up to cap: This is the rate of tax to be applied to the taxable component for a taxpayer who has not reached the preservation age at 30 June to ensure that it is kept to a maximum rate of tax of 30%
55 years and over up to the cap: This is the rate of tax to be applied to the taxable component for a taxpayer who has reached the preservation age at 30 June to ensure that it is kept to a maximum rate of 15%.
All ages over the lower cap: Any amount over the ETP cap is considered excessive and is taxed at the top marginal rate of 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018.
Age 55 Life-time benefit ETP cap: This is the Total Taxable Component the taxpayer may receive in his or her lifetime from an employer. This amount is indexed annually.
Whole of income cap: The whole-of-income cap only applies to some ETPs, for example Golden Handshakes. The whole-of-income cap is $180,000 minus other taxable income earned throughout the income year. The taxable component of an ETP is taxed at either 15% or 30% up to the whole-of-income cap. ETP amounts over the whole-of-income cap are taxed at the top marginal tax rate of 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018.
Back to ETP/lump sum and Super Lump Sum Offset Details
Not available in Accountants Office
A Death Benefit ETP is a benefit paid in consequence of the death of a person to a dependant or the legal personal representative of the deceased person or to any other person, a non-dependant (Section 27AAA).
The treatment of the taxable component of death benefit Employment Termination Payments (ETPs) depends on whether the payment is made to a dependant or non-dependant and how much is paid.
Payment to a dependant
From 1 July 2007, the taxable component of a death benefit ETP, paid to a dependant that is within the recipient’s cap on concessionally taxed employment termination payments is tax-free. The remainder of the taxable component (if any) will be taxed at the top marginal tax rate plus Medicare levy.
Payment to a non-dependant
From 1 July 2007, the taxable component of a death benefit ETP, paid to a non-dependant that is within the recipient’s cap on concessionally taxed ETPs will be taxed at a maximum rate of 30% plus Medicare levy. The remainder of the taxable component (if any), will be taxed at the top marginal tax rate plus Medicare levy.
Tax treatment of a death benefit
Recipient | Tax on Taxable Component from 1 July 2007 |
|---|---|
Dependant | The amount within the recipient’s ETP cap is tax-free The amount over the recipient’s ETP cap is taxed at the recipient’s top marginal tax rate plus the Medicare levy. |
Non-dependant | The amount within the recipient’s ETP cap is taxed at a maximum rate of 30% plus Medicare levy The amount over the recipient’s ETP cap is taxed at the recipient’s top marginal tax rate plus the Medicare levy. |
Cap on death benefit ETPs
The cap on death benefit employment termination payments is $195,000 for the current income year and is indexed annually.
The cap limits the amount of death benefit ETPs payable by the same employment termination that is concessionally taxed.
The death benefit ETP cap operates independently of the life benefit ETP cap. This means that any death benefit ETPs the taxpayer receives do not count towards the life benefit ETP cap. Similarly, any life benefit ETPs the taxpayer receives do not count towards the death benefit ETP cap.
For example, the taxpayer’s spouse dies and he or she receives a death benefit ETP from the spouse’s employer. The taxpayer then resigns from their job and receives a life benefit ETP. The $185,000 cap applies separately to each payment.
The whole of income cap for the current year is $180,000.
ETP Death Benefits Tab
Payment to a Dependant: The tax-free component is non-assessable non-exempt income and is tax exempt and not to be included in Taxable Income.
Taxable Component Over the Recipient’s Cap: This is the amount of the Death Benefit that exceeds the ETP Death Benefits cap and is taxed at the top marginal rate of tax plus Medicare levy.
Maximum rate all ages: The maximum rate of tax is 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018 regardless of the taxpayer’s age.
Payment to a Non-dependant:
Taxable Component Up to the Recipient’s cap: The amount received up to the recipient’s cap for an ETP Death benefit is taxed at marginal rates with an offset to ensure that tax is not charged at a rate higher than 30%.
Maximum rate all ages: The maximum rate off tax for all ages is 30%.
Death Benefit cap: The Death Benefit cap is a once only life-time cap for each Death Benefit received in consequence of the death of the same person.
Back to ETP/lump sum and Super Lump Sum Offset Details
Not available in Accountants Office
Taxable Component of Lump Sum:
Age 60 and over - Up to the low rate cap: This is non-assessable non-exempt income and is tax exempt and not to be included in taxable income.
Age 60 and over - Up to the untaxed plan cap - Taxed amount: This amount is subject to a tax rate of 15%.
Age 60 and over - Over the untaxed plan cap – Untaxed amount: This amount is subject to a tax rate of 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018.
Preservation age:
55 to 59 years - Up to the low rate cap - Taxed amount: This amount is zero tax rated for offset purposes.
55 to 59 years - Up to the low rate cap - Untaxed amount: This amount is subject to a tax rate of 15%.
55 to 59 years - Over the untaxed plan cap - Taxed amount: This amount is subject to a tax rate of 15%
55 to 59 years - Over the untaxed plan cap - Untaxed amount: This amount is subject to a tax rate of 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018.
Under 55 years - Up to the untaxed plan cap - Taxed amount: This amount is subject to a tax rate of 20%.
Under 55 years - Up to the untaxed plan cap - Untaxed amount: This amount is subject to a tax rate of 30%.
Under 55 years - Over the untaxed plan cap - Untaxed amount: This amount is subject to a tax rate of 45% plus 2% for the Temporary Budget Repair Levy for the income years ending 30 June 2016, 2017and 2018.
The relevant cap:
Low rate cap: This is the Total Taxable Component the taxpayer may receive in his or her lifetime. This amount is indexed annually.
Untaxed plan cap: This is the Total Taxable Component the taxpayer may receive in his or her lifetime. This amount is NOT indexed annually
Back to ETP/lump sum and Super Lump Sum Offset Details
Not available in Accountants Office
A Lump Sum Payment to a Dependant: The tax-free component is non-assessable non-exempt income and is tax exempt and not to be included in Taxable Income.
Paid to a Dependant:
Income stream – Taxable Component: This element is taxed in the fund is not assessable, not exempt income.
Income stream – Untaxed Element: This element is taxed at marginal tax rates and subject to a 10% tax offset.
Age of Deceased: The age of the deceased is required to work out the Tax-free component.
Age of recipient: The age of the recipient is required so that the correct rate of tax is applied to the Untaxed element.
Deceased 60 and above - Recipient any age – Untaxed amount: This amount is subject to an offset of 10%
Deceased Under 60 - Recipient any age – Taxed amount: This amount is subject to an offset of 15%
Deceased Under 60 – Recipient over 60 – Untaxed Element: This amount is taxed at marginal rates and is not subject to an offset.
Payment to a Non-dependant:
Lump sum – any age – Taxed Element: This amount is taxed at 15%
Lump sum – any age – Untaxed Element: This amount is taxed at 30%.
Back to ETP/lump sum and Super Lump Sum Offset Details
Superannuation Income Stream Taxable Component
Not available in Accountants Office
Age 60 and over - Taxed amount: This amount is non-assessable non-exempt income and should not be included in taxable income.
Age 60 and over - Untaxed amount: This amount is subject to a tax rate of 10%.
Age 55 to 59 - Taxed amount: This amount is subject to a tax rate of 15%.
Age 55 to 59 - Untaxed amount: This amount is taxed at marginal rates and is not subject to a tax offset.
Income stream amounts below the Preservation age are taxed at marginal rates and are not subject to an offset.
Back to ETP/lump sum and Super Lump Sum Offset Details
SIS Death Benefit Income Streams
Not available in Accountants Office
Deceased Age 60 and over, dependant any age - Taxed amount: This amount is non-assessable non-exempt income and should not be included in taxable income.
Deceased under 60 and dependant Age 60 and over - Untaxed amount: This amount is subject to a tax rate of 10%.
Both deceased and dependant under 60 - Taxed amount: This amount is subject to a tax rate of 15%.
Any Age up to 60 - Untaxed amount: This amount is taxed at marginal rates and is not subject to a tax offset.
Income stream amounts below the Preservation age are taxed at marginal rates and are not subject to an offset.
Back to ETP/lump sum and Super Lump Sum Offset Details
HECS-HELP, Trade Support Loan (TSL), Student Start-up loan (SSL) and SFSS Repayment Rates
Not available in Accountants Office
The HECS-HELP, TSL and SFSS Repayment Rates contain the income thresholds and rates of tax for repayment of HECS-HELP, TSL and Student Supplementary Financial Scheme (SFSS) debt rates of payment.
This section consists of two columns of fields, one for HELP/TSL/SSL repayments and one for the Student Loan Repayment:
Ceiling: This is the amount at which tax at a higher rate is calculated.
% of Income: This is the rate of tax applicable to each income bracket.
Back to General Tax Rates
Medicare Levy Details, Medicare Levy Surcharge (MLS) and Private Health Insurance rebate (PHIR)
Not available in Accountants Office
The Medicare Levy table contains the income thresholds and shading-out ranges for single and married taxpayers and Australian Government Pension recipients for the Medicare levy and the Medicare levy surcharge.
Levy rates
Standard Levy Rate: This is the standard Medicare levy payable by all taxpayers who are residents of Australia.
Shading Levy Rate: This is the shading-out rate that applies to taxpayers who have income in excess of the threshold.
Additionally with the introduction from 1 July 2014 of the 2% Budget repair levy, those details are included as the last entry following the family tax thresholds. Where the Adjusted taxable income or the GDP-Adjusted taxable income of the individual exceeds of $180,000, the 2% levy will be raised on the excess over $180,000.
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Surcharge Rate
Additional Levy Rate: This is the additional Medicare levy surcharge levied on all Australian resident taxpayers who earn a taxable income above the applicable surcharge income threshold and do not have sufficient private hospital insurance.
Lower limit: This is the threshold of taxable income below which a taxpayer is exempt from the Medicare levy.
Upper limit: If a taxpayer's taxable income falls within the lower limit (defined in the previous field) and the upper limit, the levy is shaded-in at the rate defined in the Shading Levy rate field for the excess amount over the lower limit.
The lower and upper limits are provided for all single and married taxpayers.
Family Children
Upper and Lower increments: If there are more than 6 dependent children or students, for each additional dependent child or student the lower limit increases by the lower increment and the upper limit increases by the upper increment.
Surcharge income thresholds
The Medicare levy surcharge is based on a three tier system with the maximum rate for those without sufficient private health cover being 1.5% based on their Adjusted taxable income or Combined adjusted taxable income for these purposes.
Single: Income earners without adequate private patient hospital insurance are liable to an additional levy surcharge. This is the level of notional taxable income above which an unmarried taxpayer with no dependants incurs the additional Medicare levy rate.
Married/Family: Families without adequate private patient hospital insurance are liable to an additional levy surcharge. This is the level of notional income above which the combined taxable income for a family with no dependant's incurs the additional Medicare levy rate.
Extra child increment: Families who are liable to an additional levy surcharge on the basis of their combined taxable income are entitled to increment the surcharge income threshold according to the number of dependent children. This is the amount by which the surcharge income threshold is increased for each dependent child after the first.
Private Health Insurance Cover Details
This table contains the minimum Health Fund premiums payable in order to be sufficiently covered for Medicare Levy Surcharge purposes:
Single and Family Income Ceilings
Dependant Definition
Minimum Premiums payable table
Dependant Definition
A Dependant needs to be an Australian resident for tax purposes. For a spouse, student or child only, they will be treated as a resident if they have always lived in Australia or they came to live in Australia permanently, unless they have set up a permanent home outside Australia.
Additionally, the dependant would have to be:
Maintained by the taxpayer, and
Under 21 years and not a student, or
A full-time student under 25 years.
Back to General Tax Rates
Not available in Accountants Office
Why Copy a Parameter Table?
The ONLY reason to copy a Parameter table would be to perform What-if Calculations for Tax Planning purposes.
For example
You may have a client who is turning 55 years of age next year, or is thinking of entering the Averaging System (either as a Primary Producer or a Special Professional), or is thinking of disposing of a lot of assets, and you want to know the tax effect of doing such things, then you would copy the 2017 Parameter Table and rename it to 2018, edit the tax rates and use it to calculate 2018 scenarios of tax payable.
Parameter Tables come in pairs, one for the current year and one for the subsequent or PAYG Income year. The Default Table will be for the PAYG income year, and this is the table you will need to copy so that it can be used with the current year data to provide a tax estimate for the next year. You will not be able to rely entirely on the PAYG income tax calculated for the next year or for Offsets and rebates, Medicare etc., as these will not have been published at the time.
To copy parameter tables:
Click Maintenance > Parameter Tables.
Highlight the PAYG Income year parameter table (in most instances this will be the Master Individual Table) and select Copy. The Add/Edit Parameter Tables dialog is displayed.
At the Name field give the Table a description by which you will easily recognise which year’s Tax Rates are being used
At the Year field, edit the year from the PAYG year to the current year.
You can elect to edit the Tax brackets or any of the values in the Parameter Tables now or at a later stage. Remember if you are editing Tax rates, then you must edit all four Tax Tables (Resident, Non-Resident, Minors and Non-Resident Minors) offered in the Add/Edit Parameter Tables dialog.
[F6] or [OK] to save the change.
Your Practice Parameter Table is now available for selection from the Parameter Tables Index.
To 'attach' this Practice Table to one of your What-if calculation scenarios, highlight the particular Calculation and click on the Properties Icon. At the Parameter Tables pane of the Properties dialog, Current field, click [F10] and select the table.
Name: The name of the Practice Parameter Table may be changed at any time. However, it should have a description that allows you to easily recognise which year's rates you are using. For example if you take a 2017 Table to use in 2018 calculations because you want to know what the taxpayer's tax liability might be in 2018 if certain events happen, then give the Table a description something like 2018 What-if Calculations.
The Estimate
The Estimate that is produced will be calculated in accordance with the Tax Rates so far published for the PAYGI income year.
As previously explained, you would not need to place reliance on the PAYGI Instalment Tax calculated as this would also be based on 2017 and not 2018 tax rates.
Description of fields:
Year: This field can be edited only when copying a parameter table. Once a parameter table has been copied, this field cannot be edited.
Edit: Select the table to edit. You may edit the Tax Rates (tax brackets) and the Parameters of Tax Rebates and Offsets now if that is required or close the Table [F6] or [OK] and do any editing required at a later stage. MYOB does not advise editing tax rates unless advised to do so because the Government has introduced new rates during the income year. You may, of course, edit rates in any copy of a Master table that you create for your own purposes.
If you make a mistake and wish to restore a Master table you have edited, select the ‘Copy from Master’ button and highlight the table to be copied and the corresponding Table in the Master Tax Tables dialog offered.
Back to General Tax Rates
Not available in Accountants Office
AutoChange offers a search and replace function for Parameter Tables.
If you have used a Table other than the Master Table for the purpose of calculating the Estimate in several Calculation scenarios, and now want to revert to using the Master Table or another Table, the AutoChange function performs that function.
AutoChange searches through all the calculation scenarios in the Calculations Index and creates another Index which contains all the scenarios that use the same Practice Table rather than the current year Master Parameter table. The Practice Table in the Properties for each calculation may be replaced with the Master Table.
AutoChange deals with one year at a time: Therefore if you have changed Next Year’s table as well, you will need to perform the AutoChange functionality for Next Year as well.
To do this:
Click Maintenance > Parameter Tables.
Highlight the Practice Table for the current year that is to be replaced with the Master Table for the current year and select AutoChange.
At the AutoChange dialog, at the When used as: field select from the list one of the options – in most cases this will be Current Year,
At the With: field select either 2017 Year Defaults to re-establish the Default Master Tables or ‘Selected Year if you want to change to another Practice Table.
Click [OK].
At the Replace Tables Index click [Select] or [Select All].
Click [Execute].
Back to General Tax Rates
Not available in Accountants Office
Update from Master allows you to replace the existing default parameter table with the Master table and would be used if you have mistakenly overtyped a rate or there is an incorrect rate which needs to be manually changed.
Important: The Update from Master function is purely for the purpose of updating Default Tables when rates used to calculate estimates of tax payable are wrong or have been recently changed by legislation. It is not a "copy" function. Do not use this function for any other purpose than to replace the Default Table with the EQUIVALENT Master Table. For budget purposes, to create a table with your own projected rates and parameters, use the Copy... option.
How to perform the Update from Master Function:
Click Maintenance > Parameter Tables.
- The
- is displayed.
Highlight the table to be updated.
Click [Update from Master...] to open the Select Master Tables Index.
Locate the corresponding table and click [Select].
Tax always operates on the first table listed in both the Default and Master Index. It is most important that, once you have selected the required table in the Default Index and clicked [Enter], you remember to locate the corresponding or equivalent table in the Master Index.
Back to General Tax Rates
Not available in Accountants Office
The Print Parameter Tables screen is used for selectively printing the parameter tables.
Click Maintenance > Parameter Table > Print, or
- Click Reports
- s.
Select one or more rate tables to be included in the report.
Resident Tax Rates
Non-Resident Tax Rates
Resident Minor Tax Rates
Non-Resident Minor Tax Rates
Tax Offsets/HECS/Medicare
Click OK.
If you have started to print from the Reports menu, you will be offered to print a range of parameter tables according to year and description.
If required, set the Mask to be applied.
A mask is a sorting device that allows only the table with the attributes you want to be included in the print run.Click OK to continue.
At the Preview/Print screen select the printing options for this report and click OK.
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