Document ID: chunk:federal_register_of_legislation:F2024L00664:clause:8_865
Version: federal_register_of_legislation:F2024L00664
Segment Type: clause
Provision Reference: sch 8 cl 865
Character Range: 182646–184188

865              0.2190  106.4962
1,046            0.3527  222.1981
1,053            0.3627  222.1981
1,208            0.3227  180.0385
1,281            0.3327  180.0385
1,358            0.3350  176.5769
1,439            0.3400  176.5769
1,525            0.3450  176.5769
1,617            0.3500  176.5769
1,714            0.3550  176.5769
1,817            0.3600  176.5769
1,926            0.3650  176.5769
2,042            0.3700  176.5769
2,164            0.3750  176.5769
2,294            0.3800  176.5769
2,432            0.3850  176.5769
2,578            0.3900  176.5769
2,596            0.3950  176.5769
2,732            0.4650  358.3077
2,896            0.4700  358.3077
3,070            0.4750  358.3077
3,653            0.4800  358.3077
3,653 & over     0.5600  650.6154

Rounding of withholding amounts

Withholding amounts calculated as a result of applying the formulas are rounded to the nearest dollar. Values ending in 50 cents are rounded to the next higher dollar. Do this rounding directly – that is, do not make a preliminary rounding to the nearest cent.

Software

Payroll or accounting software written in accordance with the formulas in this schedule should be tested for accuracy against the sample data provided at ato.gov.au/taxtables. The results obtained when using the coefficients in this schedule may differ slightly from the sums of the amounts shown in the pay as you go (PAYG) tax tables. The differences result from the rounding of components. Withholding calculated using either method is accepted.