Tax Changes to take effect from April 1st, 2022

The following are the changes taking place from April 1st, 2022.  These will kick in on the first pay ‘paid’ in April.

  1. ACC EARNER LEVY – The ACC Earner (employee) Levy Rate increases from $1.39 to $1.46 per $100 of earnings.  Employees will see a small increase in their taxes and a small decrease in their take-home pay.
  2. ACC EARNER LEVY THRESHOLD – The maximum income to which the ACC Earner Levy is applied increases from $130,911 to $136,544.
  3. STUDENT LOAN THRESHOLD – The Student Loan Threshold increases to $21,268.  The deduction remains at 12%.
  4. MINIMUM WAGE – The minimum wage increases to $21.20, an increase of $1.20.  The new minimum wage rate applies for all hours worked from April 1st, 2022.

 

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