Post

1 follower Follow
0
Avatar

ESCT change

Is there anything we need to do regarding the ESCT change in April 2012. For example, do we need to find out what tax rate to use for each employee

or will that be done automatically from their pay records?

Robert Owen Answered

Please sign in to leave a comment.

1 comment

0
Avatar

We have included in our changes the automatic calculation of ESCT rate based on the previous year's earnings. For a new employee the rate will be set based on the salary amount entered in the wizard or the regular hours per week times the hourly rate if not salaried. If not regular hours or salary we will assume the employee is casual with low annual earnings and we will set the default ESCT rate to the lowest rate, this will be recalculated at the next tax year end.

Robert Owen 0 votes
Comment actions Permalink