KiwiSaver contribution rates and ESCT
Both KiwiSaver and Child Support settings are found under the Kiwisaver + child support tab of and employee's profile.
Below is an image with guidelines on how to enter the KiwiSaver contribution rates for your employees and as employers.
- Enter the employee's contribution rate (minimum of 3%). An employee declares their contribution rate on a KS2 form, or provides a proof of contribution holiday.
- Do the same for your employer's rate (minimum of 3%).
- ESCT is a tax on employer contributions based on an employee's projected annual earnings (over the 52 week period). If you are unsure it's a good idea to check with your employee if they have any other sources of income.
- By default, KiwiSaver is not treated as wages. If your contract states that employer KiwiSaver is included in gross wages then select the appropriate option.
How to remove KiwiSaver contribution?
Below is an image with guidelines on how to remove the KiwiSaver contribution rates for your employees and as employers.
- Leave the box empty for the employee contribution rate
- Leave the box empty for the employer contribution rate
Delete any '0's or spaces in the box.
Please make sure that you have received confirmation that a KiwiSaver savings suspension or opt out has been accepted before stopping deductions.
Loading Child Support
Child Support settings can be found directly underneath the KiwiSaver settings.
- Simply enter the amount in the Child Support deduction box. Do not enter the $ symbol.
Note: There can be some variation on child support notices, so make sure to read them closely. Some notices say 'on the pay day' and others say 'on the pay period ending' and the pay period date/length stated may not match up with the client's pay cycle in Thankyou Payroll. For example if the the notice says to deduct $125 weekly but the employee is paid fortnightly, you would enter 250 into the 'CS deduction' box.