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What's new in Wagemaster v7.2.1.8185

What’s in this Wagemaster release?

  • Genuine redundancy and early retirement at termination – alignment with Pension age
  • Housecleaning – removal of EFT Audit Non-bank records
  • File Open changed to File > Open Company

Database changes:

Genuine redundancy and early retirement at termination – alignment with Pension age

Termination Wizard – genuine redundancy/early retirement – update in retirement age to 67 years (up from 65 years).

https://www.servicesaustralia.gov.au/individuals/services/centrelink/age-pension/who-can-get-it

 

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Note: An employee receiving a genuine redundancy payment must, at the time of dismissal, not have reached the pension age. Pension Age is 67 years for employees born after 01/01/1957, 66 years and 6 months for employees born between 01/07/1955 to 31/12/1956, 66 years for employees born between 01/01/1954 to 30/06/1955. Employee born before 1954 cannot receive genuine redundancy payment. Also check what the compulsory age for the particular position is, for example, if an employee in a particular position is required to retire at age 60, then the person can only receive a genuine redundancy payment if he or she is less than 60 years old when the dismissal occurs.

https://www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-individuals/Genuine-redundancy-and-early-retirement-scheme-payments---alignment-with-the-Age-Pension-age/?page=1#Legislation_and_supporting_material

 

Housecleaning – removal of EFT Audit Non-bank records

Enhancement to the housecleaning process to ensure removal of all EFT bank records including non-bank records.

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Known issues reported in this release

 ETP duplication in STP and ATO Payment Summary reporting (ADP-972). When a termination is processed that includes ETP Payments but is not completed (payslip is not saved), and the termination wizard is re-run a second or multiple times with ETP components, multiple ETP Payments are recorded in STP reporting. Payslip format (ADP-730) alignment with FairWork. A fix for both issues will be available in a future release of Wagemaster.

 

 

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