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Esct Deductions

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Employer Superannuation Contributions Tax (ESCT) calculations

…from 1 April 2014 * KiwiSaver changes from 1 April 2013 * Filing to the IRD in Payroll * 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…

How-to guide: payroll changes | MYOB Blog

The PAYE tax is actually made up of two components - the main being tax, the other being a portion of the ACC Earner Levy that funds the ACC scheme. After increasing steadily for a few years, the Earner Levy is dropping for 2012/13 from 2.04% to 1.7%. While not a massive decrease, it does mean lower PAYE overall for your employees, which will be appreciated.

Filing to the IRD in Payroll

…Contribution Tax (ESCT) correctly. This includes: 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 IMPORTANT…

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

…community.myob.com Email *Required Your Feedback *Required Support notes others found helpful * Adjusting KiwiSaver deduction rates in Payroll * Employer Superannuation Contributions Tax (ESCT) calculations * Continuing to make employer KiwiSaver contributions in Payroll when an employee has applied for…

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…

KiwiSaver changes from 1 April 2013

….myob.com Email *Required Your Feedback *Required Support notes others found helpful * Adjusting KiwiSaver deduction rates in Payroll * Payroll 2014 - new compliance changes from 1 April 2014 * ESCT calculating on KiwiSaver Employer contributions for employee's under 18 or over 65 * Continuing to make employer…

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.

MYOB Payroll Software for Small to Medium Businesses

Payroll software that keeps you fully compliant with IRD legislation from MYOB. Payroll management software from New Zealand's Number 1 Payroll Software Provider.

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

…their KiwiSaver deductions on setup. If an employee gives you an opt-out notice before their first pay, you have two options. According to the KiwiSaver Employer Guide, deductions should be made from any pays the employee receives during the first two weeks of employment. These deductions can then be refunded…

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.

Adding a permanent employee into the KiwiSaver Scheme in Payroll

…KiwiSaver. As described below, by going into Maintain Employees, employer deductions are entered on the Compulsory Deductions tab, and the employee deduction amount is entered on the Pay Defaults/Totals tab. For information on deduction amounts, see the IRD website. * Add the employee into the payroll as…