MYOB Payroll 2024.2 - July 2024

As part of the 2024 New Zealand budget, new personal income tax thresholds apply from 31 July 2024. The 2024.2 release updates MYOB 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.

Installing your upgrade

Before upgrading, we recommend you back up your data file to an external drive, and close any open programs.

You may need to be logged into Windows as an administrator to install the upgrade.

Download and install the upgrade

Download the MYOB Payroll v2024.2 Full Installer.
Double-click the install file.
The installer opens.
Follow the on-screen instructions to complete the installation.
When the installation is complete, restart your computer.

Check your software is up to date

Start MYOB Payroll.
Press Ctrl+R to open the Payroll Version window.
Check that the version number is 2024.2.

If the version number has not updated, see our troubleshooting tips below.

Troubleshooting your upgrade

When installing a new version on Windows 10 or 11, the installation might stop after you unzip the installation files to a temporary folder. To fix this issue, see our support article.

Troubleshooting other issues

Try these steps if you get any errors when installing the upgrade.

Try disabling your antivirus software until the installation is complete.
Check that there are no yellow exclamation marks in the Windows Device Manager (right click My Computer and go to the Properties > Hardware tab). Resolve any conflicts and try installing again.
Make sure your Windows font size is set to Normal (right click the Windows desktop and go to the Properties > Appearance tab).
If an error appears that relates to installing *.OCX files, click OK and start the installation again.

If you still cannot install the upgrade, try searching the MYOB Payroll (New Zealand) Support Notes or see our website.

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