If you've got employees, there are a few changes you need to be aware of effective 1st April 2013:
KiwiSaver Rate changes
Base rate of Employer and Employee deductions increases to 3% (from 2%)
Student Loan Rate changes
The Student Loan Deduction rate increases to 12% (from 10%)
ACC Levy Rate Changes
The ACC Levy payment threshold increases to $116,089. The earners' levy rate remains at 1.7%.
IR Reporting improvements
Improved IRD reporting workflow for ir348 and ir345.
Changes to tax codes
The low income tax codes are removed (ML & ML SL tax codes).
Removal of Child Tax Rebates
Removal of the Child Tax Rebate
Dreading it already?
Don't worry. We're releasing the latest compliance update for Payroll in all of our software: MYOB Payroll, LiveAccounts and AccountRight Plus, Premier, Enterprise and MYOB EXO Employer Services.
MYOB works closely with the IRD to automate these changes and simplify your payroll needs.
Don't waste time manually adjusting payroll rates and fixing errors each time the IRD sets new compliance changes. After all, every month end should be spent assessing your business instead of getting your taxes and payroll right.
