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Gross Pay for KiwiSaver Schemes and Complying Funds
- michaella_Datacom
Analytics
Gross pay is different for KiwiSaver schemes and complying funds.
For more info, see the IRD website https://www.ird.govt.nz/kiwisaver/kiwisaver-employers/contributions-and-deductions/gross-pay-for-kiwisaver-and-complying-funds
KiwiSaver Exempt Income
Inland Revenue (IR) require employers to select one of the below options if an employee is likely to receive KiwiSaver exempt income within their first 12 months of employment.
This is required to be selected for new employees only (it is not retrospectively applied to existing employees) and will be reported to IR when the employee is first paid. Note the employee doesn’t have to receive the exempt income payment in their first pay.
In the event the employee will receive more than one type of KiwiSaver exempt income within the 12-month period, then the reason associated to the income type with the greatest estimated overall value should be selected.
| Exempt Income Options | Description |
|---|---|
Provide board-lodging-use of a house or part house or equivalent allowance | The value of providing board, lodging, use of a house or part of a house, or an allowance instead of accommodation |
Honoraria payments | Honoraria payments paid by Fire and Emergency New Zealand to a volunteer. |
Overpayment of an amount of an employer’s superannuation cash contribution | |
Retiring allowance | |
Taxable allowances for accommodation and living costs overseas | Expenditure or allowances for accommodation and living costs overseas |
Some payments under a voluntary bonding scheme and living costs overseas | Payments under a Voluntary Bonding scheme funded by the Ministry for Primary Industries, the Ministry of Health or the Ministry of Education |
In DataPay, this can be added and viewed on the Employee Details screen. The field will default to ‘None’.
This is also available on the new employee excel template.
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