Tax Changes effective 01/04/2013

Just a quick note regarding tax changes that will take effect from your payrun in April.

  1. Kiwisaver Contribution Increase – the minimum Employee & Employer rate will increase from 2% to 3%.
  2. Primary & Secondary Schoolchildren – their payments will now be taxed.  If you have any such employees can you get them to complete an IR330 asap and let us know the details.
  3. ML and ML SL Tax Codes are Disappearing – These will automatically be updated to M or M SL.
  4. Student Loan Repayment Rate – this will increase from 10% to 12%

Apart from Number 2, all these changes will take place automatically for you.  In relation to Schoolchildren, you need to let us know what tax code to use.

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