You can find all recent updates to the calculations for People Hires below:

From the 6th April 2024 the employers contribution rate was updated to 13.8% in line with government guidelines.

Since April 2019 the minimum contribution rates for Employer automatic enrolment pension schemes is 3%. However you can pay more and are able to edit this amount.

Updates from February 2024. Currently there isn't a national standard rate for payroll tax in Australia, the general range hovers between 4.75% and 6.85%, dependent on the specific state or territory.

We have set the default tax to 4.75% but you will be able to edit the percentage for this field.

The Super Guarantee is currently set at 11% of ordinary time earnings. This rate is set to rise incrementally to 12% by 2025. The SG percentage can be manually increased in the calculator

The KiwiSaver is a workplace-based superannuation savings scheme that operates on a voluntary basis and is available to all employees older than 18. Employers must contribute on behalf of all employees who are members. Employers must calculate ESCT at a rate equivalent to an employee's annual salary and wage plus the employer's gross yearly contribution. The minimum contribution rate for employer is 3% of the gross salary. This percentage can be adjusted.

As of 2023 Employers must contribute 5.95% on earnings that are between the Basic Exemption amount and the Year's Maximum Pensionable Earnings (YMPE) towards the the Canada Pension Plan.

If you have any questions please don't hesitate to reach out to us at support@floatapp.com