MYOB AE/AO release notes – 2025.0 (Australia)

Go to Tax 2025: Tables, rates and thresholds to download a pdf copy

• Medicare levy

• Private health insurance rebate rates

• Adjusted taxable income

• Study and training loan repayment thresholds and rates

• Government contributions

• SAPTO threshold

• Foreign exchange rates

• Interest on Overpayments and Late Refunds

• Depreciable Car Limit (DCL)

• Luxury car tax rate and thresholds

• Motor vehicle cents per kilometre

• CPI rates: Updated till December 2024 quarter.

• Notional dependent offset: Increased to $3300 in the 2024 tax year.

From 1 July 2024, if you receive a qualifying LSPIA and meet the conditions, the ATO will exclude the LSPIA amount when calculating your Medicare levy liability.

In MYOB estimate, if you have a qualifying Lump sum payment in arrears (LSPIA), we will calculate Medicare levy liability, including the Lump sum payment in arrears (LSPIA).

But if there is a Lump sum payment in arrears (LSPIA) exemption, the ATO will calculate the Medicare levy liability excluding LSPIA amount, so the ATO's Notice of Assessment may differ from the MYOB estimate.

We've made changes to the income tax client report (ITCRPT) to comply with the ATO API technology. These are background changes and won’t affect your usual workflow.

Validation error fixes

• CMN.ATO.SMSFAR.437194 - Distributions to Beneficiaries of Trust schedule must be present when Gross distributions from trusts income is provided.

• CMN.ATO.IDS.440567 - If you’ve answered Y at Item 19a Label A but no amounts at Item 19a Labels B, C, and D will trigger the IDS.440567 error.

• VR.ATO.TRT.442906 - This error was happening incorrectly when Is the trust a managed investment trust (MIT)?" is answered N. This is now fixed.

• VR.ATO.INCDTLS.000343 - Validation error updated as per ATO rules.

• SMSFAR.437194 - We’ve added a F3 validation to avoid an ATO rejection went here is amounts at Gross distributions from trusts amount.

Bug fixes

• You can now delete spouse details and other schedules in Amended tax returns if required.

• The Repayment income threshold for the Study and Training repayment level is fixed.

• An SBE asset was written off incorrectly when the pool balance was less than the threshold ($20,000) after applying depreciation deductions.

• Trust Income Schedule

  • The amount at Other Expenses > Arms length > Non-Deductible Amount L2 will now integrate to Item 12 Label L1 in an SMSF return.

  • The amounts were doubling when closing out the Trust income schedule in a Company and Trust return. This is now fixed.

• We’ve corrected the label description at Item 7 Label G.

• Depreciation schedule not printing the closing Pool balance where the asset has a purchase price and private usage % amounts.

• The prior year losses (pyl) schedule in the CGT worksheet will show the total amount and not the dissected amounts in 2024.

Prefill availability

The ATO has advised that pre-filled data will be available from 1 July, with most data finalised by the end of July.
Read more on the ATO’s website

Statutory reporter compliance changes

• Inventories accounting policy
  Simplified disclosures only
  We’ve changed the wording in the paragraph Accounting Policies - Inventories, to “Cost of inventories is determined using the first-in-first-out basis and is net of any rebates and discounts received.”

• Borrowings note
  Simplified disclosures only

  We’ve removed the covenants paragraph under the Collateral heading in the paragraph named Borrowings note - collateral paragraph - SDS.

  We’ve added a new heading and paragraph for covenants in the paragraph named Borrowings covenants - SDS.

• Leases note
  We’ve removed the following from the paragraph Leases note - entity as lessee & terms and conditions:
  "Information relating to the leases in place and associated balances and transactions are provided below."

• Declaration report
  Company, trust, partnership & individual only

  We’ve changed a line in the report.
  Old line: “The directors/trustees/partners/proprietor of the [entity] declare that:”
  New line: “In the opinion of the directors/trustees/partners/proprietor:”

  This change is in the following paragraphs:

  • Declaration - company -opening paragraph

  • Declaration - trust - opening paragraph

  • Declaration - individual - opening paragraph

  • Declaration - partnership - opening paragraph

  • Declaration - SDS - opening paragraph.

    We also removed the words "In the directors/trustees/partners/proprietor opinion" from the beginning of the paragraph for point 2 in the paragraphs
    Declaration - C, T, I, P and Declaration - partnership.

Bug fixes

• We added the ABN number to the header of the director minutes in Minutes of meeting - company.

• In the Statement of Changes in Equity for trusts:

  • The undistributed profits (accumulated losses) line wasn't always printing if the balance was zero. Now it will always print.

  • The Heading Undistributed profit (accumulated losses) wasn't printing if the balance was zero. We’ve corrected this.

• For the paragraph Directors report - No dividends paid, we removed the words "or declared" from the paragraph, as there is a separate paragraph for undeclared dividends.

When selling an asset in AE/AO or Assets Live, the Calculate capital gains tax using option was not available to select. This is now fixed.

We’ve decommissioned MYOB M-Powered Services. You’ll no longer be able to use this option in AE/AO.

If you were using M-Powered services, you’ll need to update your invoice templates and set up an alternative service.