Worried about how 2023 changes will affect your payroll? Our team at Crystal Payroll has compiled all the changes that are happening and how we’ll make sure you’re covered in terms of all the upcoming changes coming to New Zealand payroll!
Crystal Payroll is taking the next step so that you do not have to. Worried about any minimum wage employees? We have it covered for you as on the 1st of April every minimum wage employee with Crystal will have their pay rate adjusted automatically.
The update will review all employees date of birth along with their wage if it is in-between $21.20 and $22.69. This will ensure to minimize human error entirely as it is completely automated.
There are also other optional changes to staff who are in training and are not required to be paid the adult minimum wage. You will have to give our support team a message via email (firstname.lastname@example.org) that you do not want the wages to update.
If it has already gone through to the system, simply just let us know to have it be amended.
More money will be deducted through to the ACC earners levy to help support employees getting injured in the workplace. This will continue to increase next year as well to 1.60%.
The maximum amount of Earners levy to be payable is therefore increasing from $1,993.54 to $2,132.57.
It is important to be aware of this as it is easy to overlook if you are ever wondering why the PAYE is ever so slightly higher than before for everyone.
Student Loan Repayment Threshold
Any employees with Student Loans will also be having some changes from the government as anyone earning under $22,828 per annum will no longer have student loan deductions.
In terms of weekly pays the threshold increases from $409 a week to $439 while for a fortnight it is doubled from $818 to $878.
So if you have a student loan and make less than the amounts above then you should not expect any deduction for the student loan.
Ultimately, the Crystal team have you covered in terms of all the new and upcoming changes coming to New Zealand Payroll now and in the near future. On behalf of the Crystal team we hope that this information is useful to you and your payroll needs.
Thank you for using our system and most of all thank you for trusting us.