Tax Specification Changes

ACC EARNER LEVY

  • The maximum liable earnings for the ACC Earner levy will increase from $118,191 to $120,070 for all pay periods ending on or after the 1st of April.

PAYE CALCULATION FOR SPECIAL TAX CODE

  • When PAYE is calculated for employees on the STC tax code, their taxable ordinary earnings will first need to be truncated to whole dollars.

EXAMPLE: If an employee’s total pay period amount come to $457.89, the truncated amount will become $457.00. This means that if the Special Tax Rate was 20 % (as an example), the PAYE would be $91.40.

Before the change it would’ve been $91.58.

 

Other Legislative Changes

NEW MINIMUM WAGE RATES

  • The adult minimum wage rate will increase from $14.25 to $14.75 (before tax) an hour.
  • The Starting-out wage and training minimum wage will also increase from $11.40 to $11.80 (before tax) an hour.

PLEASE NOTE, YOU WILL NEED TO CHANGE THE RATE FOR ANY EMPLOYEES CONCERNED AS DATACOM DOES NOT AUTOMATICALLY CHANGE THE RATE.

NEW ‘MONDAYISED’ PUBLIC HOLIDAYS

  • If the Waitangi Day and ANZAC Day public holidays fall on a Saturday or Sunday they will be transferred to the following Monday unless it is a normal working day for the employee.

EXAMPLE: ANZAC Day 2015 will fall on Saturday 25th April, which means Anzac Day will be observed on Monday 27th April 2015.

TRANSFERRED PUBLIC HOLIDAYS INCLUDE:

  • Waitangi Day
  • Anzac Day
  • Christmas Day
  • Boxing Day
  • New Year

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