PAYE
Administering your payroll can be time-consuming and divert you from the core activities of your business. Payroll & employment legislation is growing increasingly complex.
We can relieve you of this burden by providing a comprehensive and confidential payroll service, including:
- Customized payslips.
- Administration of PAYE, statutory sick pay, annual leave etc.
- IR-Filing to the IRD.
- Summaries and analyses of staff costs.
- Administration of incentive schemes, bonuses and termination payments.
Even if you have only a few employees, you will make savings by engaging us to administer your payroll.
Your staff is one of the most important assets, we can help you get the best out of your team.
April 2011 Employment Law changes to minimum wage and holiday entitlement.. more
Minimum Wage Changes 1st April 2012
For employees 16 years and over, increases to $13.50 per hour (was $13.00 per hour)
For new entrants and employees on the training minimum wage, increase to $10.80 per hour (was $10.40 per hour)
Student Loans Changes 1st April 2012
All Student Loan borrowers are required to have a student loan (SL repayment code).
There is a new IR330 Tax Code Declaration form which will need to be completed.
For exemptions and Student Loan Codes click here
KiwiSaver Tax Changes 1st April 2012
Government contribution to half contributing 50c for every $1 contributed by individual, to a maximum of $521.43 per year
Employers contribution to be taxed at a rate equal to the individuals marginal tax rate. From the 1st April 2012 employers contribution of 2%, will no longer be exempt from ESCT (Employer Superannuation Contribution Tax).
This will not cost the employer any more. The tax amount will be deducted from their Kiwisaver contribution.
Useful Links
https://interact1.ird.govt.nz/forms/payecalculator/ PAYE/Kiwisaver calculator (make sure you select the correct income tax year)
2013 Weekly and Fortnightly PAYE deduction tables
2013 Four-weekly and Monthly deduction tables
Other changes 1st April 2012
ACC Earner Levy changes - this has reduced from $2.04 to $1.70 per $100 of gross earnings, see work it out calculators and PAYE deduction tables above.
