Important Notices and Breaking Changes 11.39 NZ Clients

The enhancements described in the related pages below represent significant functional changes that you must be aware of prior to upgrading to this release. Some of these enhancements require specific actions before or immediately after upgrading and are therefore highlighted here for your reference. Please refer to the relevant sections of this What’s New Guide, as identified below, for detailed information about each enhancement and any configuration that is required.

New Zealand Payday Filing V2

This release provides support for the New Zealand IRD v2 of Payday Filing. V2 of Payday Filing requires different reporting formats than previously used under V1 of Payday Filing and one FastTrack360 is upgraded all Payday Filling submissions will be sent in a format that is compatible with v2.

Payday Returns that have already been successfully submitted using the V1 format cannot be amended using the V2 format. Therefore, if you have any existing Payday Returns that have a submission status of Partially Completed, it is important that you submit those Returns, and that they achieve a submission status of Completed, prior to upgrading.

If prior to upgrading you have already processed payments for a date that falls after the date of upgrading but are yet to submit the corresponding Payday Return (i.e. the submission status of the Return is Not Submitted), it is recommended that you do not submit the Return until after you have upgraded. This will ensure that if you need to make further payments between when you are upgraded and the relevant payment date, you can do so without causing incompatibility between reporting formats.

New Secondary Income Tax Codes for New Zealand Payees

Two new tax codes SA and SA SL have been added to the Payroll New Zealand module to cater for taxing payees who are earning a secondary income and their combined annual income from their primary and secondary income sources exceeds $180,000 per year. If you have payees who fall into this category, you may need to change their tax code to either of these new codes prior to them receiving their first payments for the 2021-22 financial year. For more information, see New Secondary Income Tax Codes (Payroll NZ only).

It is also recommended that you refer to April 2021 Tax Changes for more information about what is changing in relation to tax rates for the New Zealand 2021-22 tax year.

New Zealand Payee KiwiSaver Details

Changes have been made to the KiwiSaver details that are captured on Payee records to cater for changes to how KiwiSaver information is required to be reported through Payday Filing v2 and to streamline the configuration of these details. On upgrading to v11.39 the KiwiSaver details of existing payees will be defaulted based on predefined rules. For more information, see Changes to Payee KiwiSaver Details (Payroll NZ only).