Ace Payroll
Page tree

You are viewing an old version of this page. View the current version.

Compare with Current View Page History

« Previous Version 13 Next »

https://help.myob.com/wiki/x/SsA6Ag


 

 

Close

How satisfied are you with our online help?*

Just these help pages, not phone support or the product itself

0
1
2
3
4
5
Very dissatisfied
Very satisfied

Why did you give this rating?

Anything else you want to tell us about the help?

 

 

 

Savings suspension

A savings suspension is a break that KiwiSaver members can take from paying contributions into their KiwiSaver account.

Members can apply for a savings suspension after they have been a member of KiwiSaver for 12 months. In some circumstances they can apply for an early savings suspension. A savings suspension can last from 3 months to 1 year.

Members can apply to take a savings suspension by submitting a Savings suspension request form (KS6) to Inland Revenue. If their suspension is approved, Inland Revenue will advise you of the suspension and you will need to suspend your employee’s KiwiSaver payments.

You do not need to continue making employer contributions while your employee is on a savings suspension, but you can if you want to.

Inland Revenue will advise you when the suspension ends and you need to restart these contributions.

Whilst on a savings suspension, an employee can resume and then stop their contributions by giving notice to their employer.

 

To set a contributions holiday

  1. From the front screen, click Employee > Modify Employee Details, select an employee then click KiwiSaver.
    Or, from anywhere in Ace Payroll press the F3 key, then click KiwiSaver.

  2. Next Contribution Holiday, click the blue text.



  3. Click On KiwiSaver Holiday. A green tick appears.



  4. If Inland Revenue has told you a date on which the contributions holiday will end, click further notice and set the date.
    The holiday will end and payments will automatically resume on that date.

  5. If you want to continue making contributions to your employees account while they take a contributions holiday, click Employer Contributions. A green tick appears.
    You are not required to make contributions during the holiday.

  6. Click Go. 

To end a KiwiSaver contributions holiday

  1. From the front screen, click Employee > Modify Employee Details > KiwiSaver.
    Or from anywhere in Ace Payroll press the F3 key, then click KiwiSaver.

  2. Under Contributions Holiday click the blue text.

  3. Click On KiwiSaver Holiday. A red cross appears.

  4. Click Go.



 

 

        
Related topics

KiwiSaver

KiwiSaver opting in

KiwiSaver opting out

KiwiSaver Contributions Report

KiwiSaver contribution rates

KiwiSaver company setup

KiwiSaver ESCT calculation

KiwiSaver reversals and refunds

KiwiSaver employee setup

 

 

Was this information helpful?

Yes
No

Why not?



That's no good. Try searching the help. Or maybe the community forum can help answer your question.

Sorry to hear that. Maybe our community forum can help.

How would you improve this page?

Unfortunately, we won't be able to respond to your feedback. Please don’t enter any personal information—if you need urgent help, contact our support team instead.

Thanks for your feedback.

Thanks! Anything you'd like to add?

We’d love to know what worked so we can keep improving our help. Please don’t enter any personal information—if you need more help, get in touch with our support team.

 

 

Ace Payroll
New Zealand
help
Small Business



Copyright © 2023 MYOB Technology Pty Ltd. All rights reserved