Inland Revenue Department – Tax changes
The Inland Revenue Department (IRD) has made the following changes effective 1 April 2022, which will impact the applicable staff from our next pay.
ACC Earner Levy – increased from 1.39% to 1.46%
- Therefore, the PAYE tax (which includes the ACC earner levy) will increase for most staff (up to a maximum of $6.68 per fortnight)
Student Loan (12%)
- The minimum threshold increased from $20,280 to $21,268 per annum (Fortnightly threshold of $780 increased to $818)
- Therefore, the student loan deduction will decrease by $4.56 per fortnight for most staff over the threshold ($818 gross fortnightly)
Minimum Wage (Adult rate) – also increases from $20 to $21.20 per hour, but as Unitec pays the Living wage as a minimum ($22.75), this change does not impact us.