https://help.myob.com/wiki/x/Lw-2BQ
The 2023.01 release updates MYOB Exo Employer Services to comply with government requirements for the 2023–2024 financial year. You don't need to wait until the new financial year to install this release, as the compliance changes won't be activated in the product until 1 July 2023.
For detailed instructions on preparing for the end of the 2022–2023 financial year, see the end of financial year processes document.
Tax and compliance changes
The 2023.01 release changes how you define family domestic violence leave (FDVL) on payslips and for Single Touch Payroll (STP).
Discreet payslip labels for individual employees
Previously, you had to choose one FDVL label to display on all employees' payslips. Now, if an employee requests it, you can change the FDVL label on their individual payslip. The default label is still Special Leave.
As part of this change, a Show on Payslip field has been added to the Family and Domestic Violence Leave window. This replaces the field that was previously on the Leave Management Setup > FDVL Leave tab of the Setup Payroll screen.
Reporting FDVL in STP
For each employee, you can now choose from five different categories when reporting FDVL in STP:
- Other Leave – Reported as type O in the leave collection.
- Ordinary Time – Reported as Gross Amount in the remuneration collection.
- Allowance – Reported as type OD in the allowances collection, with a description of Other Allowances.
- Bonus – Reported as Gross Bonuses and Commissions in the remuneration collection.
- Overtime – Reported as Overtime Payment in the remuneration collection.
To select an employee's FDVL category for STP, use the STP Report as dropdown on the Family and Domestic Violence Leave window.
You should select an STP category that matches the payslip label you entered in the Show on Payslip field. For example, if you leave the payslip label as Special Leave, you should select Other Leave as the STP reporting category.
The minimum repayment threshold is now $51,532. Previously, it was $48,361.
MYOB Exo Payroll automatically applies the new rates and thresholds for pays with a Physical Pay Date on or after 1 July 2023.
Full information on all repayment thresholds is available on the Australian government's StudyAssist website.
Employment Termination Payment (ETP) threshold amounts have changed as follows for the 2023–2024 financial year:
Amount | Old value | New value |
---|---|---|
ETP cap | $230,000 | $235,000 |
Base limit | $11,591 | $11,985 |
Completed years service | $5,797 | $5,994 |
New companies created in the 2023–2024 financial year will be given these values by default. For existing companies, you must manually edit the values in the Payment setup > Termination Payments section of the Setup Payroll screen.
From 1 January 2023, the Child Support Protected Earnings Amount (PEA) changed as follows:
Frequency | Amount |
---|---|
Weekly | $456.53 |
Fortnightly | $913.06 |
Monthly | $1,985.09 |
Any new Child Support Deductions created after the installation of this release will contain these values as defaults. However, MYOB Exo Payroll does not automatically update these amounts in existing deductions. You must edit them on the Deductions Maintenance window for each Child Support Deduction (if you have not done so already):
The PEA amounts must be updated as shown for the first pay after 1 January 2023.
From 1 July 2023, the compulsory Superannuation Guarantee rate increases from 10.5% to 11%. When creating a new superannuation with the SG contribution type, the default percentage is 11 if the system date is 1 July 2023 or later; otherwise it is 10.5.
When creating a pay from 1 July 2023, a warning message appears:
To update all open pays, click Yes. If you click No, SG rates will stay as they are, and the warning will appear the next time you create a pay in the 2023–2024 financial year.
For employers who enforce the maximum earnings base for super guarantee contributions, the maximum super base quarterly amount has increased to $62,270 for the 2023–2024 financial year. Update the Maximum Earnings Base field to this amount on the Superannuation Maintenance screen for all superannuations where the Contribution Type is SG. Any new superannuation created in the 2023–2024 financial year will have its Maximum Earnings Base set to the new amount by default.
From 1 July 2023, the payroll tax rate is 5.5% on the taxable wages paid by employers or groups of employers.
A diminishing threshold applies for employers or groups of employers with annual taxable wages in Australia between $1 million and $7.5 million. For taxable wages of $7.5 million or more, tax rates will be realigned to 5.5%, down from 6.0% or 6.5%.
For full details, see the Western Australian government website.
Resolved issues
Description | Issue ID |
---|---|
When posting multiple pay periods to the MYOB Exo Business general ledger, error 24 could occur: "Alias name is already in use". This has been resolved. | N/A |
After selecting the Hide employees with zero leave balance option on the Leave Balances report, the report would be cluttered with employees who have family and domestic violence leave (FDVL) balances. This has been resolved. Now, employees who only have FDVL balances won't be shown on the report when the option is selected. | CE00036883 CE00036281 |
Installing this release
Requirements for PCs running Exo Employer Services components are detailed on the Minimum System Requirements page.
Information on installing and upgrading MYOB Exo Employer Services is maintained on the MYOB Enterprise Knowledgebase. See the following articles:
To check that this release installed successfully, check that the versions displayed on the About window (Help menu > About) match the versions listed here:
Application | Version |
---|---|
MYOB Exo Employer Services | 2023.01 |
MYOB Exo Payroll | 2023.01 |
MYOB Exo Employee Information | 2023.01 |
MYOB Exo Time and Attendance | 2023.01 |
Runtime Files | 09.00.0000.7423 |