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MYOB EXO 2016 Payroll update

April 3, 2016

EXO Payroll 2016.01 includes a number of usability changes which are very nice and have been appreciated by everyone who’s seen them so far.

The user interface has been modernised and includes new list windows for managing employees and pays.   The lists can be filtered, sorted, exported or printed.

The custom payslip is working well now and is recommended for use going forward as this is the payslip MYOB will put most development efforts into.  Adding a logo is easy.  If your logo doesn’t fit, you can open the forms designer and enlarge the image area to suit.

EXO 2016 custom logo

The biggest tax change to be aware of is the taxing of lump sum holiday pay.   The IRD clarified last November that all lump sum and future paid holiday pay would be taxed at the higher tax rates.

The main concern that has been expressed about this change, is the higher tax that is required to be paid when staff take several weeks leave at once and take their holiday pay in advance, as they are entitled to.  This is being reviewed by the IRD and may change.

There is no longer the option in EXO to override the number of periods to tax holiday pay.

For more information on taxing holiday pay in New Zealand, you can check out the IRD position at Calculating PAYE on holiday pay.

 

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