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harper23's avatar
harper23
Trusted User
5 months ago

NZ payroll tax updates too early

Hi seems the NZ tax changes happening from 31st July are already loaded onto payroll. I am doing pays today ending 30th July and the tax rates have changed. We cannot pay the new rates yet. How do I ...
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  • jenniek's avatar
    jenniek
    5 months ago

    Hi harper23 is this MYOB Business Payroll? Was your payment date 31st July? If so, then the new tax rates do apply for all payment dates from 31st July - regardless of weekend ending date. So it may have been correct.

harper23's avatar
harper23
Trusted User

Our pay week is 24th - 30th pay on 31st. Aah so the tax changes are from 31st so that's why it has already changed for our pays?

Bullswool's avatar
Bullswool
Trusted User
5 months ago

Probably yes. (but I am by no means an expert (i'm based in AU)). 

The wording is odd in that it states: "thressholds apply from 31 July 2024..." i.e. last day of the month, rather than first day of new mont, but... it is what it is...

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