MYOB Ace Payroll 3.52B - July 2024
As part of the 2024 New Zealand budget, new personal income tax thresholds apply from 31 July 2024. The 3.52B release updates MYOB Ace Payroll to comply with these new thresholds.
For extra payments, the new thresholds apply from 1 April 2025. For more details, see the IRD website.
You can install this release before 31 July 2024. The legislative changes aren’t activated in MYOB Ace payroll until the relevant date, e.g. changes to tax thresholds are applied when you run a pay ending on or after 31 July 2024.
Installing your upgrade
To download and install the latest version from within MYOB Ace Payroll:
Back up your payroll data to an external drive or Ace Payroll online.
You may need to be a windows administrator to do this.Go to Utilities > Ace Payroll Online > Download an Upgrade.
Follow the on-screen installation instructions.
When the upgrade is complete, MYOB Ace Payroll will restart automatically.After Ace Payroll has restarted, press F5 and to confirm that you've successfully upgraded to version 3.52B.
If you need to download the latest installer, go to MYOB Software Downloads.
What’s changed
Income thresholds
Current Income Range | Tax Rates | New income range From 31st July 2024 (Extra payments from 01 April 2025) | Tax Rates |
$0 - $14,000 | 10.5% | $0 - $15,600 | 10.5% |
$14,001 - $48,000 | 17.5% | $15,601 - $53,500 | 17.5% |
$48,001 - $70,000 | 30% | $53,501 - $78,100 | 30% |
$70,001 - $180,000 | 33% | $78,101 - $180,000 | 33% |
$180,001 and above | 39% | $180,001 and above | 39% |
Independent Earner Tax Credit (IETC) thresholds
Threshold | Current threshold | New threshold 31 July 2024 |
|---|---|---|
Lower Threshold | $24,000 | $24,000 |
Upper Threshold | $48,000 | $70,000 |
Abatement starts | $44,000 | $66,000 |