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MYOB AE Assets release notes and install guide—2.4.5 (Australia)

Release date—30 May 2019

Release notes

Pool balance and write-off threshold

We've made changes to reflect the ATO changes to instant asset write-off thresholds.

Calculating pool balance and write-off threshold

If the pool balance for the year (calculated prior to depreciation) falls below the pool write off threshold, the entire small business pool is written off:

Date rangeThreshold for each asset
2 April 2019 (7.30pm AEDT) to 30 June 2020$30,000
29 January 2019 to 2 April 2019 (prior to 7.30pm AEDT)$25,000
12 May 2015 (7.30 pm AEDT) to 28 January 2019$20,000
1 January 2014 to 12 May 2015 (prior to 7.30pm AEDT)$1,000
1 July 2012 to 31 December 2013$6,500
1 July 2011 to 30 June 2012$1,000

MYOB Assets calculates the pool balance as follows:

 Example AExample B
Opening Written Down Balance$ 18,500$28,500
ADD: Taxable value of asset added this year$ 500$ 3000
LESS: Taxable termination value of assets disposed of$ (1,500)$ (500)
Pool Balance$ 17,500$ 31,000
Closing written down value of pool

$ 0

$25,150

In example A, the depreciation expense is $17,500 whereas the depreciation expense for Example B is $5,850.

Certain assets can be immediately written off where:

  • the asset is acquired between 1 July 2011 and 30 June 2012 and cost less than $1,000.
  • the asset is acquired between 1 July and 31 December 2013 and cost less than $6,500.
  • the asset is acquired between 1 January 2014 and 12 May 2015 (before 7.30pm AEDT) and cost less than $1,000.
  • the asset is acquired between 12 May 2015 (after 7.30pm AEDT) and 28 January 2019 and cost less than $20,000.
  • the asset is acquired between 29 January 2019 and 2 April 2019 and cost less than $25,000.
  • the asset is acquired after 7.30pm (AEDT) on 2 April 2019 and cost less than $30,000.

When attempting to add an eligible asset to the pool, Assets will prompt you to create the asset as an immediate deductible asset instead.

Install guide

Read through this install guide before you start installing the update. It will help you plan the tasks required.

Prerequisites
  1. Back up your data.

  2. Ensure everyone's logged out of all MYOB programs.
  3. Check that your computer meets the system requirements.
  4. Disable your virus checker.
To install AE Assets 2.4.5

Each workstation that is currently running MYOB AE Assets must be upgraded to MYOB AE Assets Version 2.4.5. If you have MYOB AE Assets on a terminal server use, Add/Remove Programs to upgrade to MYOB AE Assets Version 2.4.5.

The MYOB AE Assets 2.4.5 installer will recognise if you have an existing version of MYOB AE Assets installed on your system. The installer will uninstall the previous version and install MYOB AE Assets 2.4.5.

If you are installing MYOB AE Assets for the very first time, MYOB AE Assets 2.4.5 is all you need to install.

To upgrade to MYOB AE Assets Version 2.4.5 from an existing version

  1. Download the .exe file from my.MYOB.
  2. Double-click the download file. The Licence Agreement window opens.
  3. Read the licence agreement.
  4. Click Yes to agree with all the terms of the licence agreement.
  5. Click OK. The previous version of MYOB AE Assets is uninstalled and the Warning: Have you backed up your Data? window opens.
  6. If you have backed up your data, click Yes. The System Release Directory window opens.
  7. If you haven't backed up your data:
    1. Click Cancel to exit the installation.
    2. Back up your data.
    3. Restart this procedure.
  8. Specify where System Release is installed.

    You must specify all locations of System Release. System Release is usually installed in C:/Sol64.

     

    1. Click Add. The Browse For Folder window opens.
    2. Browse your computer for the location of System Release.
    3. Click OK.
  9. Click Next. The Destination Directory window opens.
  10. Accept the default directory.
  11. Click Next. The Installation Summary window opens.
  12. Review the selected current settings for the installation and, if you need to make any changes, click Back to go to the appropriate window and make your changes before proceeding.
  13. To begin the installation, click Next. MYOB AE Assets version 2.4.5 is installed on your computer. The Installation Complete! window opens.
  14. Click Finish.
Post-installation

Check your version number 

  1. Open MYOB AE Assets.
  2. Click Help and select About MYOB AE Assets.
  3. Check that the version is 2.4.5.
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