Newsletter March 2013
Working For Families
The net income level guaranteed by the minimum family tax credit will rise from $22,568 to $22,724.
ACC
The government announced that the 2013/2014 levy rates will remain at their current levels. However they have introduced three new initiatives:
- Extended Workplace Safety Discounts
- Vehicle Classification System
- Fleet Safety Incentive Programme
We will be following up on these changes in future newsletter, but in the meantime, visit the following website for more information: www.acc.co.nz/news/WPC116639
KiwiSaver
The minimum contribution rate for employers and employees will rise to 3% from April.
Primary and Secondary School Children
From 1 April 2013 PAYE must be deducted from payments of salary/wages or schedular payments to school children.
Student loan changes
The repayment rate for student loan deductions increases from 10 to 12 cents per dollar earned over the current threshold of $19,084 per annum.
For more information, please feel free to give us a call or
visit the IRD website: http://www.ird.govt.nz/changes/budget-index.html?id=homepage