Withholding tables for New Zealand’s tax year starting April 1 were released by its Inland Revenue Department March 24.
The IRD released IR340, Weekly and Fortnightly PAYE Deduction Tables, and IR341, Four-Weekly and Monthly PAYE Deduction Tables, covering four different possible pay periods. The IRD also provides a calculator.
An increase in the minimum KiwiSaver contribution rate to 3.5%, from 3%, takes effect April 1. If an employee has made a request to the IRD to temporarily continue the 3% contribution rate, the employer should only use the PAYE portion of the tables for the employee unless ...
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