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To enter an employee tax code click <=
/span>Employee > Modify Employee Details > Taxati=
on. Select your employee from the drop-down menu, then click Tax Code. The Tax Co=
de Selection window open=
s.
The most commonly used codes are show= n towards the top of the screen. All tax codes are available by scrolling d= own.
Click a code to select it. A tick app= ears next to your selection.
At the top of the screen is a link to= Download= an IR330 Tax Code Declaration, which yo= u need all new employees to complete for your records.
Tax codes can also be entered from th=
e Tax Ready Reckoner, in the Utilities menu on the front screen.
Inland Revenue may send you an IR23 S= pecial Tax Code Certificate asking you to deduct tax at a specified percent= age rate. The rate specified by the IRD may be inclusive of ACC Earner Prem= ium, or plus ACC Earner Premium.
The certificate will specify whether =
the rate is plus ACC Earner Premium, or inclusive of ACC Earner Premi=
um.
If the rate is inclusive of ACC Earne= r Premium, the rate will be a whole number such as 11 cents in the dollar (= 11%).
Tick STC ACC Incl as shown above, then enter the percentage value and ensure you selec= t the code to be inclusive of ACC Earner Premium.
If the rate is plus ACC Earner Premiu= m the rate will a strange number, such as 29.39%
If the rate is 29.39% inclusive, the = breakdown of that number is 28% tax, plus earner premium of $1.39 = per $100.
Set this by ticking STC ACC Plus, then click percentage and= enter 28 as the percentage.
Not only does this produce the correc= t tax deduction, but when the earner premium changes in the future it is au= tomatically adjusted by Ace Payroll without any additional input.
Inland Revenue may send you an IR23 S= pecial Tax Code Certificate asking you to deduct student loan repayments at= a set rate. You do this using the SL STC tax code.
When producing printed and electronic= employer monthly schedules this code is shown as STC but internal= ly Ace Payroll shows it as SL STC= to provide a little more informa= tion about the tax code.
After entering the
If Inland Revenue has asked you to de= duct withholding tax for a contractor at zero percent with no earner premiu= m, set the employee tax code to 'NIL Zero Tax'.
In the Tax Code Selection window, scroll down - it is the last tax code shown.<= /p>
No tax will be deducted from the empl=
oyee wages, and the gross payment will still be returned on your monthly sc=
hedule showing the tax code as STC - special tax =
code.