Company, Partnership and Trust tax returns are now online
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Company, Partnership and Trust tax returns are now online
Prepare, share and lodge related entities in the cloud.
MYOB Practice Tax improves workflow efficiency by enabling quick and easy data sharing between Individual, Company, Partnership and Trust returns.
Move to the cloud. In just two clicks.
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A modern take on a familiar design
Everything is more simple when your focus is in one place. A single view of your tax return status means you'll know where a return is, and what needs to happen next. On top of this, you'll get automatic prefills and simplified validations.
Easily connect from anywhere
Begin to say goodbye to relying on the clunky office VPN. With cloud-based software, once you've synced with MYOB AE or AO, you can easily access MYOB Practice Tax from anywhere.
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Works hand-in-hand with MYOB AE or AO
No need to fear a complete software overhaul. MYOB Practice Tax is built to work in sync with MYOB AE or AO. Once set up, your data will remain in MYOB AE or AO, but any changes across both systems will automatically sync together.
Simplified ATO rejection handling
No longer are you required to decipher an ATO rejection message- simply use the navigation pane to identify where there are
errors in the return.
Works hand-in-hand with MYOB AE or AO
No need to fear a complete software overhaul. MYOB Practice Tax is built to work in sync with MYOB AE or AO. Once set up, your data will remain in MYOB AE or AO, but any changes across both systems will automatically sync together.
Simplified ATO rejection handling
No longer are you required to decipher an ATO rejection message- simply use the navigation pane to identify where there are
errors in the return.
What's next for MYOB Practice Tax?
Business Activity Statements, Individual, Company, Partnership and Trust tax returns are available in MYOB Practice now.
The rest of our ATO compliant tax forms will be iteratively released.
That way, your practice can go through change in bite sized pieces, and you’ll have a smooth onboarding experience.
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Hear from others who have made the switch
“MYOB Practice has saved us approximately one week every quarter on BAS lodgements. That’s a whole month per year!"
MPK Accountants migrated from MYOB Accountants Office to MYOB Practice because it saw the advantage of working in a cloud-based system. And it’s not wrong.
Now, staff can amend lodgement information for clients anywhere, anytime. They can easily track that lodgements have been submitted on time from one central system that’s updated automatically, in real-time.
Learn how MYOB Practice helped MPK Accountants streamline their activity statements.
Frequently Asked Questions
Why should I move to MYOB Practice Tax?
The key benefits of moving online with MYOB Practice Tax includes:
- Prepare, share and lodge related entities quickly: Simple sharing of data between Individual, Company, Partnership and Trust returns improves the efficiency when working with family groups.
- Modern & user-friendly design: The modern yet familiar user interface creates a simpler and more intuitive navigation experience with a cleaner look and feel, so team members can pick it up faster and enjoy working in the product.
- Built to Scale: Practice Tax grows with your practice, there are no limits on how many returns you can lodge.
- Access anywhere, anytime: With it's cloud native technology, you can access MYOB Practice Tax from anywhere, anytime, and on any device that has internet access and a compatible browser, so you can keep track of and do your work with more flexibility.
- Improved return rejection handling: Click the rejection error in the return to take you to the field affected. No longer are you required to decipher an ATO rejection message. Use the navigation pane to identify where there are errors in the return.
- Keep track of your lodgements: A single view of your return status' means you'll spend less time flicking between screens and have a clear view of where a return is at, who’s responsible, and what needs to happen next.
- Simplified ATO prefill: Import data from the ATO into the tax return with one click while, so you no longer need to navigate to multiple different windows reducing the time spent preparing.
- Integrated with AE/AO: With its deep integration with AE/AO, any updates you make to contacts are automatically updated in MYOB Practice Tax, so AE/AO can continue to be your one source of truth.
- Enhanced security: Robust and secure experience for both practices and clients.
- Automatic updates: Say goodbye to tax software installs. Practice Tax automatically provides regular feature updates and quicker bug fixes, all behind the scenes without any effort from you.
- Easy to move returns online: Simply rollover your tax returns from AE/AO Tax to MYOB Practice Tax with 2 clicks, so you don't need to go through a complicated and costly migration process.
Want to learn how to get started? Check out our comprehensive onboarding guide that outlines each set up step.
What type of client is MYOB Practice best suited for?
We encourage using MYOB Practice Tax to help you move your practice to the cloud as we're continuously improving the efficiency of tax returns online.
For up to date information, we recommend reading our help page on which clients we recommend not to move online yet.
Is there an additional cost?
What is the difference between MYOB Practice Tax and AE or AO Tax?
MYOB Practice Tax will support activity statements, individual, company, trust and partnership tax returns with the other minor tax returns being released in future. We will continue to develop additional features and functionalities for MYOB Practice Tax. See here for more information.
Will AE/AO still be available?
Yes, MYOB AE/AO Tax will be available with the release of MYOB Practice Tax. Based on your practice requirements, you can choose to prepare returns in MYOB Practice Tax, AE/AO Tax or use both. AE/AO Tax will continue to receive tax updates and new tax years alongside MYOB Practice Tax, and if there is a change, we will provide plenty of notice.
MYOB AE/AO is still the source of truth for your contacts. You will be able to view and open all your tax returns for both systems through AE/AO Tax.
Is client accounting available online?
We’ve partnered with Silverfin to bring you an AI-powered workpaper and financial reporting platform designed to unlock capacity through seamless automation, supercharge your team with intuitive standardised tools, and deliver exceptional client experiences with proactive data-driven insights.
At the start of 2025, we’ll be ready to work with a select pool of early adopters. Practices can register their interest to stay informed on new developments relating to this announcement.
More information can be found here