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GPNZL: Global Payroll New Zealand Legislative Changes for Tax Year 2019-2020 (Doc ID 2502925.1)

Last updated on JANUARY 09, 2020

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 2019-2020. 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 April 1st 2019 1. “ Student Loan annual repayment threshold is increased from $19,448 to $ 19,760. The weekly is being changed from $374 to $380 whereas the fortnightly is changed from $748 to $760. The monthly threshold limit of student loan is changed from $1621 to 1647 whereas the four weekly is being change from $1496 to $1520.

2. The maximum liable earnings for ACC Earner’s Levy is increased from $ 126,286 to $128,470.
The following amendments to the Kiwisaver Act 2006 have been made:
3. Additional contribution rates of 6% and 10% will be available to Kiwisaver members – from 1 April 2019
4. People aged 65+ will be allowed to opt-in to Kiwisaver – from 1 July 2019

PRP Patch is Posted.

Patch 29034484

https://support.oracle.com/epmos/faces/PatchResultsNDetails?releaseId=27001300090200&requestId=22721140&patchId=29034484&languageId=0&platformId=2000

 

 

 

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.

Contacts

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