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Tax Brackets
Tax Brackets
Tax Brackets define effective-dated tax slabs used by payroll.
Fields
- Bracket Name - slab name.
- From Amount - lower salary bound.
- To Amount - upper salary bound; blank can mean no upper limit.
- Rate - percentage rate.
- Fixed Amount - additional fixed tax amount if used by your setup.
- Effective From - start date.
- Effective To - end date if temporary.
Workflow
- Create slabs in logical order.
- Use effective dates carefully when tax rules change.
Notes
- Overlapping ranges or overlapping effective dates can produce unclear results if not planned.
- The top bracket is usually modeled with a blank To Amount.