Tax 2024.0a KB224821282 hotfix (Australia)

We’ve addressed the following in this hotfix release

• Activity statements on the ASO homepage
  On the Activity Statement Obligations (ASO) homepage, when you open an activity statement that is prefilled from the ATO and in a Ready to Prefill status, it gets linked to the 2024 tax return as a generic schedule instead of the 2023 return.

• Small business instant write-off threshold
  The threshold to increase the Small business instant asset write-off to $20,000 is now law. Based on that, we’ve updated the threshold amount in the software.
  Since this law passed after the MYOB AE/AO 2024.0 release, you may have started, or lodged 2024 returns. Based on the status of your tax return, you’ll need to follow the steps below to refresh and recalculate the threshold amount from $1000 to $20,000.

  • In Progress status: We’ll automatically update the new threshold. Make sure you check the values in the small business depreciation schedule.

  • Completed status: Select Edit completed form and open the small business depreciation schedule to apply the new threshold.

  • Lodged status: Amend the tax return. Open the small business depreciation schedule to apply the new threshold.
    Note: We recommend generating the estimate to check the taxable income and other amounts after the new threshold has been applied.

• 2024 Tax letters
  We’ve fixed the errors: Format FBT2025 is not on file, and Format TALETT24 is not on file when clicking Create/Update views.

• You must have MYOB AE/AO version 5.4.51 installed and the Tax version is 2024.0. To check your current version, click Help > About.
  If you don't have 2024.0 installed, you'll see the following message when installing the hotfix.

• Ensure you have administrator access to the server where MYOB AE/AO is installed.

• Ensure all users are logged out of MYOB Tax.

• A workstation install is not required.

1. Go to my.MYOB and download the MYOB Tax Hotfix 224821282 - Installer file to your server location where you installed MYOB AE/AO.

2. Double-click the executable to start the installation.

3. In the Welcome to the InstallShield Wizard window, click Next.

4. Select I accept the terms in the licence agreement. Click Next.

   

5. In Ready to install window, click Install to start the installation.

   

6. On the Install Completed window, click Finish.

   

This release does not require a workstation install

• Open a 2024 tax return.

• Select Help > About.

• Check that the Version is 2024.0a.