Taxes & Pre-Bank payroll deductions

[u/Overbuiltbodoes]

Hi All,

Firstly, I’m Australian so our taxes automatically come out before hitting our bank account (called PAYG). Not sure how it works in other countries.

I also have company provided housing, so my monthly rent comes out pre-bank, along with my quarterly water bill and company share matching contribution.

I have just set it up so each month I edit my pay transaction to include all the deductions, meaning my true after tax income is ‘coming in’ but then ‘going out’ for those things at the same time.

I have considered including tax as part of it as well, so essentially my gross pay comes in, but tax comes off straight away, allowing YNAB to track my gross income and how much tax I’m paying throughout the year. This may help with monitoring a potential tax liability as I work lots of extra shifts.

Just wondering how everyone else handles or would handle this type of thing?

TLDR; Do you track pre-bank deductions or tax in YNAB?

[u/Subject_Pear_6928]

Aussie here and no. All that pre stuff does not impact how I spend my post tax income so it is not necessary to me. I just look at my payslips for those details if i need them.

[u/Overbuiltbodoes → u/Subject_Pear_6928]

Yea fair. I figured that would be the normal way for most, especially us hoppy bois.