It’s here! The compliance release of MYOB’s Exo Employer Services Software has just been released.
What's New?
Here's a summary of the changes coming to your MYOB Exo Employer Services Software with the 2019.01 release. Refer to MYOB's Release Notes for full details.
- STP Enhancements.
Employee records in each STP submission will now be accepted or rejected on an individual basis. This means that a new Partly Accepted status has been added for STP submissions where some or all of the employee records were unsuccessfully submitted. Refer to the 2019.1 Release Notes for the new columns that have been added to the STP Submissions window, and guidance on how to correct errors in STP submissions.
- Updated PAYG tax tables for the 2019-20 financial year.
Once the 2019.01 Release has been successfully installed, MYOB Exo Payroll automatically applies the new rates and thresholds for pay periods that end on or after 1 July 2019.
- New Study and Training Support Loans tax table (STSL).
The STSL replaces the Higher Education Loan Program (HELP) and the Student Financial Supplement Scheme (SFSS) tax tables. Any new employees with student loans should be set to the new tax scales, but it is optional to update any existing employees who are on the old scales. Refer to the 2019.1 Release Notes to find out how.
- Increased Child Support Protected Earnings Amount (PEA).
The increase in the PEA came into effect on 1 January 2019. If you have existing child support deductions, you should have already updated them on the Deduction Maintenance Window. Any new child support deduction created after the upgrade has been installed will have the new amounts by default.
- Increased Maximum Earnings Base for SG Contribution Types.
For employers who enforce the maximum earnings base for super guarantee contributions, the maximum super base quarterly amount has increased to $55,270 for
the 2019-20 financial year. For all existing Superannuation where the Contribution Type is SG, you will need to update the Maximum Earnings Base property to this amount for the 2019-20 financial year. However, if you create a new Superannuation with the Contribution Type SG in the 2019-20 financial year, the new Maximum Earnings Base amount will be applied by default.
- State Payroll Tax Changes.
This release updates Exo Payroll for certain changes to state payroll tax rates in New South Wales and Queensland.
- Updated Employment Termination Payment (ETP) threshold amounts.
The ETP threshold amounts for the 2019-20 financial year have changed. For existing companies, you will need to edit the values on the Setup Payroll window at Payment Setup > Termination Payments. However, any new companies created in the 2019-20 financial year will be given the new values by default.
Upgrading MYOB Exo Employer Services
Refer to MYOB’s 2019.1 Release Notes for upgrade instructions and more detail on all the changes, including how to update your existing settings for the increased ETP threshold amounts, increased Maximum Earnings Base for SG superannuation and the new STSL table.
Check out the EOFY Section of our Exo KnowledgeHub for helpful videos and resources!