Employees are one of the biggest costs, and the most important asset to a business, and annual holidays are a really important part of your teams health and wellbeing. Ensuring your team are getting what they are entitled to is your responsibility as their employer. If you don’t get it right, it can cause frustration for the employee, friction in the workplace and could land you in hot water with… Read more
Setting the ESCT rate for the next tax year is a 1 April activity that Payroll are responsible for. As part of your payroll checks and balances, you must check your payroll system is doing as expected. If you are processing payroll manually, you will need to set the ESCT yourself. Understanding how ESCT is essential to getting this right for anyone involved in payroll. What is ESCT? ESCT (Employer… Read more
Paying overtime to salaried staff has many consequences that a lot of employers are not aware of. The purpose of a salary is to pay an all-inclusive rate that is a fixed, regular payment to an employee for the work they perform. It allows a business to plan and forecast labour costs on an annual basis and can also provide concise data for business planning over the coming years, as… Read more
Remediation of your payroll system can seem extremely intimidating. There is a lot involved in the process of checking payroll for Holidays Act 2003 compliance. This information comes from the FAQ section of the Labour Inspectorate website so we thought we would share some of this here. How far back should re-calculations go? Once non-compliance with the Holidays Act 2003 is identified, the expectation of the Labour Inspectorate is that… Read more
We so often complain about how busy we are and that there is not enough time for everything. But what is it that you are actually focusing on? Are you including all the things that are important and necessary for your health and wellbeing? If you are, then you will be living a life that is meaningful and leads to optimal health and wellbeing. If you are not, you will… Read more
As a business owner or manager, you need to be ready for the minimum wage rates increase from 1 April 2024. The details of the increase are: Adult minimum wage will go up from $22.70 to $23.15 per hour. Starting-out and training minimum wage will go up from $18.16 to $18.52 per hour. All rates are before tax and any lawful deductions, for example, PAYE tax, student loan repayment, child… Read more
As a business owner, you’re the architect of your business’s vision and culture. But in the hustle to develop products, chase sales, and keep the lights on, some of the foundation often gets lost in the mix. Core values—those guiding principles that shape your company’s identity—are more than just words on a wall or a statement in a handbook. These aren’t just buzzwords to sprinkle throughout your website – your… Read more
When was the last time you felt that you had a week’s worth of energy to pour into just four days of work? As COVID-19 has reshaped our work-life balance and continues to redefine what is essential in our professional world, the concept of a shorter workweek is gaining traction. With proposed legislation in various states and countries, and the ongoing conversation among professionals, it’s evident that the discussion around… Read more
If you’re a business owner or taxpayer in New Zealand, you’ve likely encountered terms like ‘no GST’ and ‘zero-rated GST’ transactions. These terms refer to specific tax treatments under the Goods and Services Tax (GST) system in New Zealand. In this blog post, we’ll break down these concepts in simple terms to help you understand the difference. No GST transactions No GST transactions are those where the goods or services… Read more
I have just returned from a Accountants and Tax Agents Institute of NZ (ATAINZ) Workshop in Auckland, where members of the ATAINZ congregated for a day of learning and community connection. Given I am a people person, it was lovely to catching up with others in person and really being able to connect on a level you just cant get over the internet. It was great to have our ethical… Read more
The Ministry have now removed the Covid-19 rules requirement to isolate for 7 days. Changes took effect Tuesday 15th August. This means the Covid-19Leave Support Scheme is no longer in place for those testing positive. An employee who has tested positive for Covid-19 should not be permitted into the work place due to risk of spreading the virus. The employer and employee may need to consider what other options are… Read more
An employee’s time on parental leave is included as continuous service and taking parental leave does not affect entitlement to annual holidays. Employees who take parental leave will still become entitled to a minimum of four weeks of annual holidays on the anniversary of their employment start date. However payment for annual holidays that an employee becomes entitled to: during parental leave, or during a period of preference after parental… Read more
The government have decreed that Monday 26th September 2022 will be a public holiday to mark the passing of Queen Elizabeth II. But what does that mean for you as the employer? If your staff member normally works on a Monday, then this is an ‘otherwise working day’ for them and they will be entitled to be paid for that day off and paid at their relevant daily pay (RDP)… Read more
Did you know there are over 27 Legislative Acts involved in payroll – insane right? So, isn’t it interesting to know that most small businesses have an untrained staff member processing payroll for their team? Payroll is not the back-office data entry job that a lot of people think it is. In fact, when you start to understand the rules and regulations around payroll, you may be right in thinking… Read more
With winter illness at an all-time high, a lot of employees are having to take time off work to rest and recover. We have been fielding lots of questions around sick leave, covid subsidies and getting it right when paying staff. Using the right calculation for payment of sick leave is crucial to ensure the employees get paid correctly and it’s a logistical jigsaw when managing those in conjunction with… Read more
Lately I have been hearing of a large number of employees ending up with tax bills at the end of the financial year. Employees will end up with a tax bill if they have not had enough tax deducted from their income throughout the income year to meet their tax obligations. Unexpected tax bills can be really trying, affecting the health of your teams, placing stress on their finances, and… Read more
Every public holiday that comes around brings a smile to the face of employees who normally work them, either because they get a paid day off, or extra pay for working on the day. Probably not so much for employers and payroll managers though… as getting the pay right for employees is challenge for those that don’t know the rules. This could mean you are overpaying your employees, or worse… Read more