MYOB – Updated Tax Tables Are Available Now
MB+M Compliance Team advise that MYOB updated tax tables available are now. These new tables resulted from recent changes to personal income tax thresholds introduced by the Federal Government. In releasing the new tax tables the ATO has advised that these will apply from 13 October, 2020.
How do I access these tax tables?
The latest tax tables in Essentials and Essentials (new) software has been automatically updated and are now available and ready to use.
For AccountRight users updated tax tables are available for you to download at my.MYOB. Please note next steps will depend upon which version you have:
- ARL 2020.3 – If you’re working online in the latest version of ARL 2020.3 – No action is required, the correct tax tables have been updated within your software and automatically applied when paying staff.
- ARL 2020.3.0 (offline users only) – If you work offline, you will need to download the patch and upgrade to ARL 2020.3.1 or download the full installer and upgrade to 2020.3.1
- ARL Server Edition 2020.3 – Follow your usual process of installing new updates which is uninstalling current version and re-installing using the full installer for 2020.3.1
- ARL 2020.2 – You will need to download the full installer and upgrade directly to ARL 2020.3.1
For AccountEdge users we will advise you soon when a patch is ready for you to download the updated tax tables.
Need more information?
If you have questions related to the above, or need help, the MB+M’s Compliance team is here to help. The team has extensive experience in advising clients on MYOB and other accounting software. Call MB+M on 03 5821 9177 and speak with an experienced Business Services Advisor.
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