Administering the payroll is one of the most critical and demanding functions of a business. This comprehensive, easy-to-use guide clearly explains the essential components of all pay office functions and procedures.
The book provides a simple and up-to-date explanation of legal and tax implications relevant for payroll purposes and is an invaluable resource for payroll administrators, business owners and advisers.
Topics covered include:
- setting up payroll systems — including functions and staffing of the payroll office, records required by law, choosing a computerised system and internal controls and audit procedures
- ongoing payroll administration — including basic employment law requirements regarding the recruitment of staff, employment agreements, salary and leave calculations and payroll forms
- tax issues — including employers’ PAYE and KiwiSaver obligations, allowances, ACC levies, withholding tax on contractor payments, FBT, employee share schemes, entertainment expenditure, and inbound/outbound employees
- information relevant to manual, computerised and outsourced payroll solutions
- checklists, examples and forms essential for payroll procedures.
New in this edition:
- recent tax changes for cross-border employees, non-resident employers and non-resident contractors tax (NRCT)
- fringe benefit tax changes, including the pooled alternate rate option, subsidised public transport fares and the provision of bicycles and scooters to employees
- telecommunications, working from home and travel reimbursements/allowances paid to employees
- accommodation provided to employees working on rebuild projects following the 2023 North Island weather events
- payment of salary and wages in cryptocurrency
- employment law changes on rest and meal breaks, pay equity claims and collective bargaining.
Who should read this guide?
Comprehensive yet easy-to-use, this book contains information that is relevant to manual, computerised and outsourced payroll solutions. It is recommended as the payroll handbook for administrators and is an invaluable resource for HR personnel, business owners and advisers.