The Tax Allowance Breakdown, specific to Trinidad and Tobago and St. Lucia, helps track employee allowable deductions for tax purposes.
Here's how to use it:
Enable the Use Tax Allowance Breakdown flag for the relevant pay group in Payroll > Maintenance > Statutory Deductions > Use Tax Allowance Breakdown.
Enter individual tax allowance amounts as cycle changes using the appropriate TA codes (e.g., TA6 for Personal Allowances, TA4 for Annuities) in POWERpay > Process Payroll > Cycle Changes.
Note: With the Auto-Calculate NIS Impact flag enabled, the system automatically calculates the NIS allowance (TA1) based on YTD contributions.
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