ANSWER ID:12189If an employee is eligible to join KiwiSaver and Normal Hours / Days per week have been entered in the employees Leave Details tab, the KIWI (KiwiSaver) pay code will be automatically added to their pay defaults with a default rate of 3% (as of 1 April 2013). Employees can choose a contribution The default KiwiSaver employee contribution rate is 3% of their gross pay, but employees can choose to contribute a higher rate of 4% or 8% of their gross salary or wages. The Employers Contribution will be set at the required compulsory default employer contribution rate of 3%.is also 3%, but you can choose to contribute more if you want to. Here's how to adjust KiwiSaver contributions in MYOB Payroll. | UI Expand |
|---|
| title | To adjust the employee KiwiSaver deduction contribution rate: |
|---|
| - Go to the Maintenance command centre and click Maintain Employees.
- Click Select Employee.
- Click the Pay Defaults/Totals tab.
- For the KIWI (KiwiSaver) pay code, enter the applicable new rate in the Rate column as shown below in .
In this example where the Rate rate has been changed to 4%, which has been entered as 0.04000
|
| UI Expand |
|---|
| title | To adjust the employer KiwiSaver deduction contribution rate: |
|---|
| - Go to the Maintenance command centre and click Maintain Employees.
- Click Select Employee.
- Click the Compulsory Deductions tab and alter the rate as required. See our example below.
|
| UI Text Box |
|---|
| Employer Superannuation Contributions Tax - From 1 April 2012 the Employer Superannuation Contributions Tax (ESCT) exemption no longer applies and ESCT needs to be calculated on the entire employer contribution.
- Any voluntary employer contributions are also subject to ESCT. Voluntary employer contributions include any contributions you make:
- over and above the compulsory employer contribution rate
- to employees aged under 18 or over 65 years of age (and who have been member for more than five years)
- to employees on a contribution holiday, or
- to employees who are on leave without pay.
|
| 
