Payroll Calculations - Workshop
It is aimed at Advanced practitioners wanting a refresher on how to complete payment calculations that meet legislative requirements and ensure compliance.
New Zealand employment legislation is complex and wide ranging in terms of what payroll practitioners have to calculate to comply with the law. This condensed course allows advanced payroll practitioners to question all aspects of the calculations they undertake in payroll.
Practical examples will be provided so application back to the workplace can be achieved along with a comprehensive course manual.
Upon satisfactory completion of this activity you will be able to:
- Explain and question the essential legislative calculations required in relation to payroll.
- Identify risk areas in the calculations required by legislation.
This workshop will cover:
- Income Tax Act 2007 - Calculating tax, tax codes, changing tax codes.
- Accident Compensation Act 2001 - Calculation of first week’s earnings for workplace and non-workplace accidents.
- Child Support Act 1991 - Calculating protected net earnings for child support payments.
- KiwiSaver 2006 Act - Calculating the employer and employee contributions.
- How to tax IRD payments and make deductions - Calculating ESCT for KiwiSaver and Superannuation.
- Bonuses - How to calculate a lump sum (extra pay) and regular bonus.
- Calculating student loan deductions - Calculating student loan deductions and applying the student loan threshold.
- Payroll giving - Calculating the tax credit on donations.
- Holidays Act 2003 - Calculating annual leave AWE/OWP and 8%, Calculating relevant daily pay and average daily pay for sick, bereavement, alternative and public holidays & Calculating annual holidays on return from parental leave.
- Parental Leave and Employment Protection Act 1987 - Calculating payment for “keeping in touch days”.
- Employment Relations Act 2000 - Calculation to use when paying for education leave.
- Domestic Violence—Victims’ Protection Act 2018 - Calculation to use when paying for domestic violence leave (applies from 1 April 2019).
- Volunteers Employment Protection Act 1973 - Calculating the value of annual holiday entitlement on return from military service.
- Personal grievance payments - Requirements for making a personal grievance payment to an employee.
- Final pay - Calculating a final pay.
Sub-Topic: Employment Taxes - PAYE, PAYG & FBT
CPD: Upto 7 hours