The repayment threshold is currently $22,828 (2024 tax year) a year (or $439 per week), with the repayment rate at 12%.

Repayment holidays are up to 12 months in length for borrowers who go overseas and apply for one. Losses cannot be used against income to reduce liability for student loan repayments.

ESCT is deductible from employer contributions to superannuation schemes, including employer contributions to KiwiSaver.

The alternate rate calculation applies the following rates:

Available options are:

• The Inland Revenue mileage rate for motor vehicles
• Other published mileage rates (e.g. AA rates)
• Actual costs

The current Inland Revenue mileage rate for motor vehicles is:

Schedular payments are payments for specific activities such as directorships, labour hire firm contractors, actors and commission sellers.

Recipients are able to choose their rate on the filing of an IR330C provided it is greater than the minimum rates above. Default rates apply where a rate is not chosen.

Rates for non-residents can apply to non-resident contractors performing services of any kind. Exemptions are available in some situations.

Paid parental leave (PPL) is a government-funded entitlement paid to eligible primary carers and adoptive parents when they take parental leave from their job(s) to care for their new-born or adopted child under the age of six.

These payments go towards the loss of income that primary carers and adoptive parents experience when they take this parental leave.

How much are PPL payments:

For employees, PPL payments equal your normal pay up to a current maximum of $712.17 a week before tax.

For self-employed persons, PPL payments equal your average weekly earnings up to a current maximum of $712.17 a week before tax. If the self-employed person makes a loss or earns less than the minimum wage, for at least 10 hours work a week, the payment is $227.00 each week before tax. This is equivalent to 10 hours each week at the current minimum wage rate.

How long can the employee receive PPL payments for:

If the eligible employee has a baby or adopts a child under the age of six, then the employee can receive PPL payments for a maximum of 26 weeks.

How PPL is paid:

Inland Revenue will pay PPL payments directly into the employee’s bank account each fortnight. The payments will be treated as income, just like normal salary and wages or self-employed income. PPL payments have tax and student loan deductions taken out (at the rate that applies to the employee). It will not have earners’ levy deducted from it.

Employees can work limited Keeping in Touch (KIT) hours during their PPL without losing their entitlement. Employees can work up to 64 hours over the parental leave term, as long as it is not within the first 28 days after the child is born.

2023/2024 school term dates for most New Zealand primary, intermediate and secondary schools.

Term 3, 2023

• Starts Monday 17 July
• Ends Friday 22 September

Term 4, 2023

• Starts Monday 9 October
• Ends no later than Wednesday 20 December

Term 1, 2024

• Starts Monday 29 January (at the earliest) and Wednesday 7 February (at the latest)
• Ends Friday 12 April

Term 2, 2024

• Starts Monday 29 April
• Ends Friday 5 July

Contact your school to check:

http://www.educationcounts.govt.nz/find-school

School and Public Holidays

School terms and holidays:

https://www.education.govt.nz/school/school-terms-and-holiday-dates

The Anniversary Day of the Province in which an employee works is observed as follows:

• Employment Relations Act 2000
• Equal Pay Act 1972
• Holidays Act 2003
• Health and Safety at Work Act 2015
• Human Rights Act 1993
• Injury Prevention, Rehabilitation & Compensation Act 2001
• Minimum Wage Act 1983
• Parental Leave and Employment Protection Act 1987
• Privacy Act 2020
• Protected Disclosures (Protection of Whistleblowers) Act 2022
• Wages Protection Act 1983

See http://www.legislation.govt.nz for more information.

What an Employment Agreement must include:

Note: Failure to have a written IEA (Individual Employment Agreement) or failure to retain a copy, may result in a penalty of up to $10,000 for individuals or $20,000 for companies. This is for each breach, so the penalty could be imposed for each employee who does not have a compliant agreement. From 6 May 2019, an employer’s failure to have a compliant written IEA for each employee allows the Ministry of Business, Innovation and Employment to issue an infringement notice, which will have an infringement fee of $1,000.

The current minimum wage rate (before tax) is $22.70 per hour and applies to employees aged 16 years or over.

The Health and Safety at Work Act 2015 outlines that businesses are responsible for the health and safety of their employees and any others impacted by their work. More information on this primary duty of care and other key facts can be found on the WorkSafe website: http://www.business.govt.nz/worksafe.