Known issue 2014.04 (resolved): Years of service for redundancy payments calculated on date of payment (Australia)

The following issue has been identified and subsequently replicated by MYOB Exo Employer Services Support in the Australian release of Exo Payroll version 2014.04.

Issue

Support has confirmed that on the Employment Termination Payment screen of the Termination Wizard, the Tax Free Limit for a Genuine Redundancy payment is being calculated based on the Date of Payment field rather than the employees Termination Date.

This situation may cause an employee's Tax Free Limit to be calculated incorrectly and may cause incorrect tax to be determined. 

Resolution

This issue has been progressed through to Product Management via parent ticket 117271080913 for resolution in a future release and has been resolved in version 2015.01.

Need more help? You can open the online help by pressing F1 on your keyboard while in your software.

You can also find more help resources on the MYOB Exo Employer Services Education Centre for Australia or New Zealand.