hi guys
can anyone tell me what kind of payroll deduction one has to expect in NZ:
Source income tax, insurances, pension schemes?
thanks.
r.
hi guys
can anyone tell me what kind of payroll deduction one has to expect in NZ:
Source income tax, insurances, pension schemes?
thanks.
r.
I only have PAYE coming off my payroll (and hoping that they're taxing me at the correct rate).
I'm not sure if this is what you want, but there is a calculator on the website of the Inland Revenue here: http://www.ird.govt.nz/calculators/t...-tax-rate.html
You enter your pay and whether you wish to enroll on Kiwisaver (you can google for that), and it calculates your income. I'm not sure how exhaustive it is though. For insurance, I think that depends on the policy you have though I'm sure other more experienced members here can help on this.
ACC, the national health care scheme, is included in your PAYE deduction (income tax). Some companies, however, offer optional additional coverage - mine does Southern Cross (http://www.southerncross.co.nz) which is one of the biggest. I think I am out $30-40 monthly for dental and eye coverage.
Kiwisaver (try http://www.sorted.org.nz/home/sorted-sections/kiwisaver) is the national retirement plan and if you enrol, it is automatically deducted from your income as well.
Those are the only deductions of which I am aware.
Hi,
The only compulsory deductions are income tax and Accident Compensation Corporation levy (http://www.acc.co.nz/index.htm) which is the no-fault accident insurance paid by everyone.
These are generally rolled together and are deducted as one.
Other deductions you may get are pensions (known here as 'super'), work-place medical insurances, social club, etc..
Beano
I just got told by my HR that work permit holders are not eligible for Kiwisaver...something to keep in mind for WP holders
NC