Minimum Wage to increase to $14.25 from April 1st, 2014
The Government has just announced a $0.50 increase to the minimum wage from April 1st (this will apply to the first pay physically paid in April). The increase takes the rate from $13.75 to $14.25.
Parental Leave Payments to Increase in July 2013
Families with new born babies can expect an increase in parental leave payments from 1 July this year. The maximum amount of parental leave payment for eligible employees will increase from $475.16 to $488.17 a week. The minimum amount of parental leave payment for self-employed persons will also increase, from $135.00 to $137.50 a week. Under […]
New Starting out Wages comes into effect
The starting-out wage gives employers a real incentive to give young people a foothold on the employment ladder. The starting-out wage sits alongside other government initiatives aimed at helping more young New Zealanders into work or training, including Work and Income’s Job Streams. The starting-out wage replaces the new entrants wage and training minimum wage […]
Minimum Rate Increases – effective April 1st, 2013
Minimum hiourly rates increase from April 1st, 2013
Tax Changes effective 01/04/2013
Tax Changes form April 1st, 2013
Government announces new Youth Rate of $10.80
Employers will be able to pay young workers well below the minimum wage as part of a government push to get more unemployed teens into work. The new “starting-out wage” will be 80 per cent of the adult minimum wage, which is $13.50 an hour, for the first six months of work. The $10.80 an […]
ACC REBATE FOR THE 2012 YEAR
For those of you who have earnt over the threshold of $111,669 from one source of income for the 2012 tax year, you may be due a refund. Any earnings over this amount are not liable for the ACC levy which is part of your PAYE deduction taken each payday. The levy for the 2012 […]
Student Loan Scheme Amendment Bill ( No 2)
This makes for interesting reading, a lot of us either have a student loan or have children with student loans. I have copied this directly from an email I have received from the IRD. If you are interested in receiving these emails, please let me know and I can forward the link to you where you […]
Kiwi Saver – Employer Contribution Rate
There is always something new to learn when it comes to payroll. One of our clients recently requested kiwiSaver employer contributions to be deducted at 5%. I promptly told them it was either 2, 4 or 8 % as per the IRD website. However, since the introduction of ESCT, Employer Kiwi Saver can be […]
TAX BILLS AND REFUNDS
At the end of the tax year we are frequently asked why an employee has a tax bill ( never a refund !!) to pay. Naturally they find this very frustrating and would rather pay more tax each pay period than be landed with a tax bill. Under New Zealand’s current tax system we operate on […]
