Esct Deductions

30 Results For Esct Deductions

Employer Superannuation Contributions Tax (ESCT) calculations

…from 1 April 2014 * Filing to the IRD in Payroll * KiwiSaver changes from 1 April 2013 * ESCT calculating on KiwiSaver Employer contributions for employee's under 18 or over 65 * Adjusting KiwiSaver deduction rates in Payroll Share * Delicious * Digg * Facebook * Reddit * StumbleUpon * Twitter Print…

Entering payroll through spend money

….00 Gross Wage 2- (100.00)Paye Liability 2- (10.000) Kiwi Saver Liability ( this is the employees deducted amount which would equal the nett paid But I am unsure about the employer Kiwi Saver and ESCT Tax and how I record that. Also we are a non profit and some one donates specifically to the workers…

MYOB Essentials Accounting - recording an IRD payment or credit

…applicable PAYE, child support, student loan, and ESCT amounts you are forwarding to the IRD. This Spend Money transaction needs to be entered manually each month. You should be able to take the information for this transaction from your IR345 (Employer Deductions) screen. Still need help? Visit myob.co.nz…

Employer contribution doesn't match what it should be

…printed on the employees payslip doesn't total what it should be ie what is on the IRD deduction tables. It is out by $0.09 cents. I have checked that everything is ok eg employer contribution is set at 2% and esct is set at calculated but just can't work out where I am going wrong. Can anyone please…

KiwiSaver changes from 1 April 2013

…helpful * Payroll 2014 - new compliance changes from 1 April 2014 * Employer Superannuation Contributions Tax (ESCT) calculations * Adjusting KiwiSaver deduction rates in Payroll * ESCT calculating on KiwiSaver Employer contributions for employee's under 18 or over 65 * Adding a permanent employee…

Filing to the IRD in Payroll

…Contribution Tax (ESCT) correctly. Here's what we'll cover: Setting up the Payroll Options to allow ir-Filing Creating the CSV Files for electronically filing to the IRD Uploading the CSV files to the IRD Filing the IR348 Employer Monthly Schedule manually Filing the IR345 Employer Deductions form manually…

ESCT calculating on KiwiSaver Employer contributions for employee's under 18 or over 65

….com Email *Required Your Feedback *Required Support notes others found helpful * Employer Superannuation Contributions Tax (ESCT) calculations * Adjusting KiwiSaver deduction rates in Payroll * KiwiSaver changes from 1 April 2013 * Taxable allowances and how they affect the KiwiSaver calculation * Reversing…

Payroll non-compliance can cost thousands | MYOB Blog

It is important that business owners ensure the payroll function they rely on is up-to-date with current employment legislation, and is also calculating those functions correctly. Noncompliance can result in fines of up to $10,000 for the individual and up to $20,000 for the company. However, it is easy to avoid such outcomes by selecting a payroll management programme from a trusted source.

Opting an employee out of KiwiSaver after their first pay and refunding their contributions

…As shown in the above screenshot, by reversing the KiwiSaver deduction in the 'current pay' the KiwiSaver is added back on to the pay after PAYE is deducted. Processing in 'Separate Pay' screenshot Note: Reversing the KiwiSaver deduction as a 'separate pay' would correctly create a negative pay (as…

Opting out an employee from KiwiSaver before their first pay

…KiwiSaver after their first pay and refunding their contributions * ESCT calculating on KiwiSaver Employer contributions for employee's under 18 or over 65 * Holiday pay paid out in error in Payroll * Adjusting KiwiSaver deduction rates in Payroll * Existing employees joining KiwiSaver Share * Delicious…

Adjusting KiwiSaver deduction rates in Payroll

…Compulsory Deductions tab and alter the rate as required. See our example below. From 1 April 2012 the ESCT (Employer Superannuation Contributions Tax) exemption no longer applies. Prior to this, ESCT was only calculated on employer KiwiSaver contributions over 2% of the employee's gross wage. Now ESCT needs…

Preparation avoids payroll panic | MYOB Blog

1st April might be a day for some people to pull pranks, but in the world of payroll, it's often a serious and fraught day. This year is no exception, with an increase in the minimum wage and new tax changes for payroll staff to incorporate in their employer monthly schedule (EMS), as well as year-end reconciliations.