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I have done some search and found out some issues could affect the fortnightly withholding tax, like if there are 27 payrolls in a financial year, the figure will got discrepancy. It matches the discrpany last financial year, as it had 27 payrolls. But this financial year only has 26 payrolls, which means shouldn't have big discrepancy. Also, I think we should not take into account of low income tax offsets. So for example for salary 35000, tax $(35000-6000)*15%=4350, medicare levy 35000*1.5%=525, total taxpayable is $4875, fortnightly should be $187.50, but tax table is 164.00.
Anyone who knows the trick, please help me to solve it.
Thanks! |
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