PAYG Withholding Tax and Pension Payment

PAYG Withholding Tax and Pension Payment

SuperFund has the ability to allow you to allocate the amount of Tax Withheld against Pension Payments, and produce a reconciliation report.

Allocating and processing the tax withheld

1. From the Transactions menu, point to Expenses and click Pensions.
2. In the "Pension Payments" window, complete the relevant details, and click Save.
   
   
   
   HandiLedger will create the following journal:
   
   
3. From the Transactions menu, click Tax Payments / Refunds.
4. In the "Tax Payment / Refund" window, complete the relevant details, and click Save.
   
   
   
   HandiLedger will clear the 3394 account by creating the following journal entry:
   
   

PAYG Withholding Reconciliation Report

To run the PAYG Withholding Reconciliation Report, from the Reports menu, click PAYG Withholding Reconciliation.

Program and version

SuperFund 2011, version 2.00 onwards