Administering the payroll is one of the most critical and demanding functions of a business. This comprehensive, easy-to-use guide clearly explains the essential components of all pay office functions and procedures.
The book provides a simple and up-to-date explanation of legal and tax implications relevant for payroll purposes and is an invaluable resource for payroll administrators, business owners and advisers.
Topics covered include:
- setting up payroll systems — including functions and staffing of the payroll office, records required by law, choosing a computerised system and internal controls and audit procedures
- ongoing payroll administration — including basic employment law requirements regarding the recruitment of staff, employment agreements, salary and leave calculations and payroll forms
- tax issues — including employers’ PAYE and KiwiSaver obligations, allowances, withholding tax on contractor payments, FBT, employee share schemes, and inbound/outbound employees
- information relevant to manual, computerised and outsourced payroll solutions
- sample calculations, checklists, examples and forms essential for payroll procedures
- quick-reference payroll calendar with key filing dates and holidays.
New in this edition:
- payday filing, which marks a notable change in the way businesses will report PAYE information to Inland Revenue. This edition contains all the detail you need to know including special rules for out-of-cycle and schedular payments, shadow payrolls and early adoption
- recent employment law changes on the extension of paid parental leave
- the introduction of leave and flexible work conditions for workers affected by domestic violence
- Changes to the tax treatment of employee share schemes
- Updated Inland Revenue rulings on life and medical insurance premiums for employees.
Who should read this guide?
Comprehensive yet easy-to-use, this book contains information that is relevant to manual, computerised and outsourced payroll solutions. It is recommended as the payroll handbook for administrators and is an invaluable resource for HR personnel, business owners and advisers.