IR Updates 2017

Details

Last Updated: Tuesday, 12 March 2019 00:34

Changes from April 2017

A.C.C

Now referred to as the ACC Earners' Levy.

The maximum income threshold increases to $124,053.00 resulting in a maximum levy of $1724.33 p.a. The levy rate remains at 1.39%.

Scheduler Payments

Proposed changes to Scheduler payments (Contractor withholding tax) are expected to apply from 1st April 2017. These don't affect payroll directly, but may required changes for individual contractors on the payroll as they may be able to specify their own rate.

Student Loans

The loan repayment threshold for employees on the M SL code increases to $368.00 per week, or $19,136.00 p.a.

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