Author Archive

TAX BILLS AND REFUNDS

Posted: July 7, 2011 by paularetallick in Frequently Asked Questions, Tax Related
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At the end of the tax year we are frequently asked why an employee has a tax bill ( never a refund !!) to pay.  Naturally they find this very frustrating and would rather pay more tax each pay period than be landed with a tax bill. Under New Zealand’s current tax system we operate on [...]

IRD Mileage Allowance Increased

Posted: June 30, 2011 by paularetallick in Payroll Stuff
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The IRD mileage allowance used by employers to compensate employees for using their private car on company business has increased from 70 cents per kilometre to 74 cents per kilometre for the 2011 tax year.

Normally I blog about payroll related topics , but this morning when I opened The Press, on the front page one of the headings was ” This is  why you had a sleepless night”  On Tuesday night from 10.34 pm when the 5.4 aftershock  hit ( I would swear it was closer to a 5.9 !) [...]

The entitlement to a redundancy tax credit was due to expire on March 31, 2011 but it has been extended to September 30. 2011. If an employee is made redundant they are entitled to receive the redundancy tax credit of 6% for the first $60,000. ( i.e a maximum of $3,600.) To claim the rebate [...]

After the September and March earthquakes some companies paid their employees an ex gratia payment to help them over this unsettling period.  Originally, the IRD deemed the payments were taxable but tax changes have been introduced to respectively fix this.  This applies to any payments made within 8 weeks of either earthquakes ( some conditions do apply) [...]

Kiwis will work 123 days to pay their taxes.

Posted: May 5, 2011 by paularetallick in Tax Related, Uncategorized
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Did you know the average Kiwi has to work 123 days to pay their taxes. Tuesday the 3rd of May is when we start working for ourselves and not for  the Government. We compare poorly against Australia who have a Tax Freedom Day of April 19th but are leaps ahead of  Norway with their Tax [...]

As from 01 April 2011 employees and employers can negotiate the cashing up of one weeks annual leave.  This leave is not accrued leave but outstanding leave ( leave that is 12 months old) see the link below for further info. Ezypay can send you a Cash-Up holiday Consent Form – just send an email [...]

Minimum Rate Increases from 01 April 2011

Posted: March 24, 2011 by paularetallick in Payroll Stuff

The Minimum Adult Wage   increases from $12.75 to $13.00 per hour  from 01 April 2011  for all employees 16 or over who are not a new Entrant or a Trainee. The New Entrant and Minimum Training Wage will increase to $10.40 per hour from 01 April 2011.