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Welcome changes to PAYE
Most employees will be looking forward to PAYE tax reductions that are coming up. They will take effect on the first payment day after October 1st 2010
- For Income up to $14,000 the rate reduces from 12.5% to 10.5%
- For Income up to $48,000 the rate reduces from 21.0% to 17.5%
- For Income up to $70,000 the rate reduces from 33% to 30%
- For Income over $70,000 the rate reduces from 38% to 33%
Please note that there is no change to the ACC Levy of 2% which is in addition to the above rates.
If you are one of our payroll outsourcing clients...don't worry we will take care of all the details.