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Income tax Instalment Calculation excel sheet
1
Step 1 of 7
<ul><li><p>Go to Finance folder as per screenshot - Open the income tax excel sheet.</p></li></ul><p></p>

  • Go to Finance folder as per screenshot - Open the income tax excel sheet.

2
Step 2 of 7
<p></p><ul><li><p>We do this monthly to calculate income tax need to be paid each month.</p></li><li><p>Income tax Instalment Calculation excel sheet - Create different sheet for each month as per screen shot</p></li></ul><p></p>

  • We do this monthly to calculate income tax need to be paid each month.

  • Income tax Instalment Calculation excel sheet - Create different sheet for each month as per screen shot

3
Step 3 of 7
<p>Extract Profit and Loss report form MYOB:</p><p>Or open In WEB MYOB</p><p>To get the following data </p><p>Report must be year to date. E.g. July 2025 to Feb 2026 as per screen screenshot</p><p></p><ul><li><p>Total income</p></li><li><p>Income tax expense</p></li><li><p>Net profit</p></li><li><p>Total Fully Franked Dividend</p></li></ul><p></p>

Extract Profit and Loss report form MYOB:

Or open In WEB MYOB

To get the following data

Report must be year to date. E.g. July 2025 to Feb 2026 as per screen screenshot

  • Total income

  • Income tax expense

  • Net profit

  • Total Fully Franked Dividend

4
Step 4 of 7
<p>Update the excel from the P&amp;L report.</p>

Update the excel from the P&L report.

5
Step 5 of 7
<p>Extract Balance sheet report form MYOB:</p><p>Or open In WEB MYOB</p><p>To get the following data</p><p></p><ul><li><p>Superannuation Payable</p></li><li><p>Annual Leave</p></li><li><p>Long Service Leave</p></li></ul><p></p>

Extract Balance sheet report form MYOB:

Or open In WEB MYOB

To get the following data

  • Superannuation Payable

  • Annual Leave

  • Long Service Leave

6
Step 6 of 7
<p>Update the excel from the Balance sheet report.</p>

Update the excel from the Balance sheet report.

7
Step 7 of 7
<p>Update Income tax instalment. Data will be from account 2-9340 (Income Tax Instalments Paid) &amp; Add 8K each month as a tax buffer. </p><p>After entering all the details, it will give you an income tax need to be paid on that particular month.</p><p></p><p>Send that report to Ken to pay income tax each month </p><p></p>

Update Income tax instalment. Data will be from account 2-9340 (Income Tax Instalments Paid) & Add 8K each month as a tax buffer.

After entering all the details, it will give you an income tax need to be paid on that particular month.

Send that report to Ken to pay income tax each month