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GPNZL: Global Payroll New Zealand Legislative Changes for Tax Year 2018-2019 (Doc ID 2349545.1)

Last updated on FEBRUARY 05, 2019

Applies to:

PeopleSoft Enterprise HCM Global Payroll New Zealand - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Details

The intent of this document is to describe solutions for problems or questions related to Global Payroll New Zealand Legislative Changes for Tax Year 2018-2019. This solution applies to customers on PeopleSoft Release  9.2. This is a living document and will be updated as new solutions are created; please review thoroughly on a regular basis.

Summary Table - see below for details:

Please see table below for details.

 

Legislative Change

 

Effective Date Additional Info P1 Patch Fix Target Date Targeted into PUM Image/Patchset
STATUTORY CHANGES EFFECTIVE 1ST OF APRIL 2018 Apirl 1st 2018 1. ACC Earner’s Levy Rate and Threshold
Maximum ACC earner’s levy has now changed to $1,755.37. This is due to change in ACC income threshold to $ 126,286.00 and the rate at 1.39%.
We will be incorporating the threshold into variable TAX VR EL LIMIT.

2. myIR – Electronic file transfer
From April 2018, Electronic Filing of the Employer Monthly Schedules (EMS) need to submit via myIR system and ir-File will no longer used. myIR system enables employers, tax agents, payroll bureaus, payroll intermediaries and others to send electronic versions of the employer monthly schedules – IR348 (EMS – Employer Monthly Schedule) and remittance advice forms – IR345 (EDF – Electronic Deduction Form) securely to IRD via the internet. Employers can also send KiwiSaver enrolment and opt out forms (KED). Employer will also be able to amend EMS (IR348 return) electronically that they file instead of filling a paper IR344.

Release 9.2: Patch 27257005

January 19, 2018

HCM 9.2.025

 

STATUTORY CHANGES- STUDENT LOAN REPAYMENT THRESHOLD Apirl 1st 2018

In case of an employee who earn salary or wages and have a student loan then
SL tax code is used to repay the student loan. How much repayment has to be
made depends on the earning considering the main and secondary job.

Deductions are not made if
1. earnings below the pay period repayment threshold
2. repayment deduction exemption availed

The threshold is increased to $19,448 effective 01 April 2018 from $ 19136.

Release 9.2:

Patch 27481411

February 21, 2018

 HCM 9.2.26
EMPLOYEES SHARE SCHEME REPORTING CHANGES IN EMS IR 348 Apirl 1st 2018 Changes to reporting of employee share scheme in employer monthly schedule i.e, IR 348. Release 9.2:

Patch 27745941

 HCM 9.2.27
         
         

To stay up with the legislative changes that will impact your PeopleSoft Application visit <https://blogs.oracle.com/psftlegupdates/>

Actions

 You need to apply the critical patches / GP Updates whenever their legislative fixes are posted.

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