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GPNZL: Global Payroll New Zealand Legislative Changes for Tax Year 2021-2022 (Doc ID 2742634.1)

Last updated on MARCH 02, 2021

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 2021-2022. 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 2021

Student Loan annual repayment threshold increased to $20,280 from $20,020.

  • The weekly limit changed from $385 to $390 whereas the fortnightly changed from $770 to $780. The monthly threshold limit of student loan changed from $1668 to 1690 whereas the four weekly is being change from $1540 to $1560.

ACC Levy rates will not be changed and remain the same for next 2 years.

  • The maximum liable earnings for ACC Earner’s Levy will remain at $130,911.

New Higher tax rate and tax codes are introduced.

  • 39% tax rate applies to annual income that exceeds $180,000
  • SA and SA SL tax codes introduced

 

<Bug 32359094>

PRP 209815/ bug 32359094 link:

https://support.oracle.com/epmos/faces/PatchResultsNDetails?releaseId=27001300090200&requestId=24051579&patchId=32359094&languageId=0&platformId=2000

PUM Image 38
Statutory Changes Effective April 1st 2021

ESCT a new higher rate is introduced.

  • The earlier higher rate of 33% will have a threshold amount till $216,000
  • New 39% higher rate applies to ESCT threshold amount exceeds $216,000

 

 <Bug 32506379>

PRP Link:

https://support.oracle.com/epmos/faces/PatchResultsNDetails?releaseId=27001300090200&requestId=24082136&patchId=32506379&languageId=0&platformId=2000

PUM Image 38

 

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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