Full Kiwisaver Employer Contribution for Employee

Alex75
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New Zealand
Alex75
Cover User

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Full Kiwisaver Employer Contribution for Employee

Hi there,

We have just introduced MYOB essentials to use payroll. Our employer is really generous and gives us 8% Kiwisaver employer contribution. The full 8% - not the 8% minus ESCT.

I had a chat with IRD and they have given me a formula to use when filing PAYE etc so the Net contribution is correct.

Now, unfortunately this is something the Essentials payroll can not calculate correctly and I was wondering if someone else has the same issue or if we are the only company using MYOB and giving the full 8%?

 

I spoke to MYOB customer service and they recommended to post this in the community forum and it may be picked up by the development team to make programming adjustments to accomodate what we are after.

 

Thanks for any comments.

Alex

1 REPLY
Ultimate Partner jenniek
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Ultimate Partner
New Zealand
jenniek
Ultimate Partner

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Re: Full Kiwisaver Employer Contribution for Employee

Hi @Alex75

I didn't think that an employer could give more than the employee can contributing. You are very lucky. I would think that you would need to calculate it via an allowance code rather than through the kiwisaver codes. I'm also thinking that the employer woul dneed to pay the ESCT even though it is not deducted from tne employees. I would think that Essentials Payroll is far too basic to allow this - and I'm not aware  of any other payrolls that would handle this.

Regards,
Jennie Kingma
JK Business Systems Ltd, Hamilton, NZ
Email: jennie@jkbusiness.co.nz
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