EOFY Hub for MYOB Exo ES

Get Ready for STP2 Reporting

The Australian tax release of MYOB Exo Employer Services (2022.01) is now available. You will need to install this upgrade before your first pay run of the 2023 financial year. The MYOB Exo ES 2022.01 Release Notes here>

BusinessHub Disclaimer: The following information is a general guide only. Not to be relied on as legal, accounting, financial or taxation advice. Must be read subject to all documentation provided by MYOB (including release notes, whitepapers and guides).

What to expect in the 2022.01 release:

• STP 2 reporting is mandatory upon upgrade to the 2022.01 release. Unless you have upgraded to the 2021.09 release before the EOFY (which is recommended), you will need to make some configuration changes after the 2022.01 upgrade and before your first STP submission of the 2023 financial year.
• The following super changes will take effect from 1 July 2022:
  • the super guarantee (SG) percentage will increase from 10% to 10.5%. The new rate must be used to calculate super on payments you make to employees on or after 1 July, even if some or all of the pay period is for work done before 1 July.
  • the $450 per month threshold for super guarantee eligibility will be removed and you only need to pay super for workers under 18 when they work more than 30 hours in a week. You will need to make this change in your MYOB Exo ES software manually – see Release Notes for details.
• HELP Threshold changes. The threshold changes are automatically applied.
• The Seasonal Worker Program (SWP) is being replaced by the Pacific Australia Labour Mobility (PALM) scheme. You will need to indicate you are an approved PALM employer in the payroll setup screen
• Employment Termination Payment (ETP) threshold amounts have changed. You will need to update your payroll setup with the new values.

Refer to the MYOB Exo Employer Services 2022.01 Release Notes for full details.

EOFY Timeline

Mid-late June 2022:

Install the compliance upgrade of MYOB Exo Employer Services (now available). You must upgrade before processing your first pay on or after 1 July to load the tax tables for the new financial year. Transition to STP Phase 2 is required as part of the upgrade.

14 July 2022:

Finalisation Event due. Pay information will be Tax Ready for employees via myGov when the Finalisation Event is submitted successfully. PAYG payment summaries are no longer available – they were superseded by Single Touch Payroll.

EOFY Guide Release:

The MYOB ES 2022 EOFY Guide is available here>

BusinessHub advice: Refer to the MYOB Exo Employer Release Notes for the most current and detailed information available at the time of your upgrade.

MYOB Exo ES EOFY Payroll FAQs