New Zealand sees 'one of the toughest' End of Financial Year End of the Financial Year period
On 1 April, employers across New Zealand are expected to be compliant with the new minimum wage and KiwiSaver changes that are taking effect.
The adult minimum wage will be rising to $23.95 per hour. Starting-out wage will increase to $19.16 per hour, while training wage will also be lifted to $19.16 per hour.
The changes apply to all employees 16 and over, including part-time, casual, fixed-term, and remote workers.
Meanwhile, the default rate of employer KiwiSaver contributions will increase from three per cent to 3.5%.
Employees aged 16 and 17 years old who opt into KiwiSaver will also start receiving compulsory employer contributions.
Peninsula New Zealand, a workplace advisory firm, advised employers to start updating their payroll systems for the new wage and KiwiSaver settings.
They should also review employment agreements, as well as communicate the upcoming changes to their employees, particularly young workers and trainees.
Employers should also ensure that minimum wage increases are applied from the first full pay period after April 1, as non-compliance may lead to penalties and disputes.
"As wage theft has become a criminal offence, unintentional underpayments have much more dire consequences for small businesses now," said Ashlea Maley, associate director - operations, Peninsula New Zealand, in a statement.
"We urge business owners to take this opportunity and review...
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