New Tax Scale Update 2007-08

June, 2007.

The Australian Tax Office (ATO) has just released a new set of tax thresholds for the upcoming financial year.

To keep your business ATO compliant, FastTrack is set to release a tax scale update to ensure a smooth transition. The update must be downloaded and run after you complete the end of year program (including printing all payment summaries), but before the first 2007-08 pay run.

The new legislation affects PAYG tax, HECS & SFSS and will come into effect 1 July, 2007.

Importantly, the tax scale update will only be made available to those clients whose Client Services Maintenance Program membership is current as at 27 June, 2007. Please contact Client Services if you have any queries regarding your membership.

All FastTrack clients will be contacted with instructions on what they need to over the next week.

Should you have any questions regarding the tax scale update please contact FastTrack Client Support on 1300 130 716