11 March 2020
This release contains compliance updates for the 2020–2021 financial year.
ACC rates and thresholds
The following changes to ACC come into effect on 1 April 2020:
|ACC earner levy rate||1.39%|
|ACC income maximum|
|Maximum ACC earner levy||$1,819.66|
Student loan thresholds
We've updated the student loan thresholds for the 2020–2021 financial year. The new thresholds are:
MYOB Payroll now supports the China Construction Bank for employees' banks.
MYOB Payroll now uses the Payment Date, rather than the Pay Period End Date, to determine the financial year to use for tax rates and thresholds.
For example, if a pay period end date is 30/03/2020 and its payment date is 01/04/2020, the system will apply the tax rates and threshold for the 2020–2021 financial year. The Payment Date is now displayed in the footer of the main window:
When the Pay Period End Date is edited, the Payment Date is updated automatically to match the end date.
New Payment Date Warnings
New warning messages appear in the following situations:
- When entering a Payment Date in the main window footer, if the Payment Date is not in the current financial year.
- When finalising a pay, if the Payment Date is not in the current PAYE period.
In both cases, you are given the option of correcting the problem before proceeding.
To make it clearer which year/period you are currently in, the current PAYE period is now displayed on the Enter Pays screen and the current PAYE year is now displayed on the Finalise Pay window:
- The STC SL tax code was recorded in Employee Information returns as "STC SL" when it should be "STC".
- When performing a timesheet import, transactions with a date in 2020 were imported with the date as 1920.
- Start MYOB AO Classic.
- Select Help > About.
- Check that the MYOB AO Classic version is 22.0.1.
- Press CTRL+R.
- Check that the MYOB AO Payroll build is 2020.1.1100.