22 Mar April 2018 NZ Payroll & Tax Changes
On 1 April 2018 a few payroll changes come into effect that you should know about. If you’re a FlexiTime user, it’s all pretty straightforward. Here are the details and what you need to do to stay compliant.
As of 1 April 2018, the minimum wage is increasing by 75 cents to $16.50 per hour, while the starting-out and training minimum wage will increase by 60 cents from $12.60 to 13.20 per hour.
The annual Student Loan repayment threshold increases to $19,448. This is the level above which Student Loan deductions will be taken.
- The annual ACC earner levy threshold is going up to $126,286 for all pay periods paid on or after 1st April 2018. Income above the threshold is not subject to the ACC Earner Levy.
- There is no change to the ACC earner levy rate, which will remain at $1.39 for every $100 of liable income.
If you’ve got questions about any of these changes, or how they apply to your business, send our friendly support team an email: firstname.lastname@example.org.
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FlexiTime is flexible payroll software for New Zealand businesses. With online timesheets, FlexiTime makes it easy to track the hours your employees work and pay them accurately.