1st April always see’s changes for payroll. Below is a summary of the 1 April 2025 updates: ACC Earners Levy – updating to 1.67 cents ACC Earner threshold – updating to $152,790.00 Minimum Wage – Adult Min Wage increasing to $23.50. Starting Out/Training Wage increasing to $18.80 Extra pay Tax in Termination Pays – Updated method for calculating Extra Pay Tax on Termination Pays Tax Codes – No change this… Read more
New Zealanders on salary or wages may find that once their income tax assessment has been calculated automatically, they end up having tax to pay – and suddenly it’s panic stations! (Don’t worry, this happened to me, and I did the same!). There may be a reason for it! If you get paid on a Monday, this year there are 53 weekly pay periods, as opposed to 52 weekly pay… Read more
AI (Artificial intelligence) has been both a huge disrupter and enabler for businesses of all shapes and sizes. (AI) is no longer just a pipe dream of science-fiction. It has become a vital aspect of today’s world and has meant businesses or employees can and are becoming more productive by leveraging the many AI tools for business activities. In the past, the application of AI was limited to big corporations… Read more
This month Grant Robertson delivered his sixth Government Budget. The Government announced that Budget 2023 would prioritise addressing the cost of living and aim for a ‘no frills’ budget without unexpected tax changes. The challenge is how to decrease Government expenditure to mitigate inflationary effects, while simultaneously ensuring economic stability for New Zealanders during an unpredictable period and also effectively managing issues like health, housing, and climate change. Below is… Read more