Payroll Changes for 1 April 2013 

Grange Associates Ltd - 6 March 2013

KiwiSaver Deductions

For pay periods starting on or after 1 April 2013, the minimum KiwiSaver employee deduction and employer contribution increases from 2% to 3%.

Tax Code Changes

Also from 1 April 2013, employees can no longer use the ML or ML SL tax codes.  If you have any employees currently using these tax codes they will need to complete a new IR330 Tax Code Declaration form.  You can then update their details in your payroll records to reflect the new tax code they have selected.

Student Loan Deductions

The repayment rate for student loan deductions is also increasing from 1 April 2013 from 10 cents to 12 cents.

Employing Primary & Secondary Schoolchildren

From 1 April 2013, if you are registered for PAYE you need to start deducting PAYE from any schoolchildren you employ, if you are not already doing so.  You will need to make sure:

- each child has completed an IR330 Tax Code Declaration form
- you must deduct PAYE according to each child’s tax code
- you include each child’s details on your Employer Monthly Schedules form
- make KiwiSaver deductions if the child is a KiwiSaver member (employees under 18 are not subject to automatic enrolment and employers do not have to make employer contributions for children under 18).

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All information is correct at the date of article publication. Please note we provide the information as a service only. Accordingly, the contents are not intended as a substitute for specific professional advice and should not be relied upon for that purpose.   

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