Hey there, fellow number enthusiasts! If you're like me and love diving into the world of payroll, you'll want to stay tuned for some important updates from across the ditch in New Zealand. At LDG, we're all about keeping our finger on the pulse of the latest in employment law, especially when it comes to our Kiwi counterparts.
So, what's the buzz? Well, in New Zealand, the payroll year kicks off on April 1st. No, it's not a joke; it's the perfect time for payroll providers to sharpen their pencils and ensure everything is shipshape for the new year ahead.
One big change is the minimum wage increase. From the first pay after April 1st, the adult minimum wage in NZ will be $23.50 per hour, while the starting out wage will be $18.52. It's a good time for businesses to review their contracts, even if they pay above the minimum wage.
For those of you who like to dot your i's and cross your t's, the Ministry of Business, Innovation and Employment has an Employment Agreement Builder to help you out. Alternatively, you could invest in some magical software that can issue compliant contracts as part of an automated onboarding process. How cool is that?
Unlike Australia, NZ doesn't have Awards to guide rights and obligations, so employment contracts there are a bit more detailed. Investing in getting it right is crucial.
On the family front, NZ has updated its Paid Parental Leave eligibility criteria. If there are any tiny tots on the way in your workplace, it's a good idea to watch a video to ensure you're prepared. Mum and Dad should be fine, right? 😉
Paid Parental Leave in NZ is funded by the IRD, so it's important for both employers and employees to get discussions and paperwork done early. Staying in touch days and understanding what employees can do without jeopardizing payments are key points to consider.
Remember, it's always better to ask questions than to do the wrong thing. Reach out for discussions on any of the above, and let's navigate the world of payroll together!
