NZPPA Glossary

There are 351 entries in this glossary.

All

ABN

Australian Business Number. A unique identifying number issued to all entities registered in the Australian Business Register (ABR).

ABR

Australian Business Register. The Australian Business Register (ABR) is an extensive database of identity information provided by businesses when they register for an Australian business number (ABN).

ACC

The Accident Compensation Corporation (ACC) administers New Zealand’s accident compensation scheme, which provides accident insurance for all New Zealand citizens, residents and temporary visitors to New Zealand. In return people do not have the right to sue for personal injury, other than for exemplary damages. (See ACC web site: www.acc.co.nz).

ACC Earner Levy

The ACC earner levy is a levy applied to every dollar earned up to a limit, and is in addition to the tax rates. This levy is used to fund the Accident Compensation Corporation (ACC) and is a legal requirement. Also known as Earner Levy or Earner Premium. Important: ACC is legislatively required to be calculated with a maximum threshold on all tax codes – however IRD has advised that no maximums should be applied to Secondary and flat tax codes.

Accounting for allowances and benefits f

Holiday pay, bonuses, allowances, and special benefits paid to employees such as loss of earnings compensation or life insurance premiums are usually liable for tax.

Accumulation Fund

A superannuation fund based on the accumulation of contributions and any earnings accrued by those contributions during the lifetime of the fund (interest, dividends, etc).

Action clause

Action clauses specify conditions for schedule rules.

Actuals

This is a breakdown of actual employee attendance for a specific period.

Algorithm

A prescribed set of well-defined rules or processes for solving a problem in a finite number of steps. For example, an algorithm checks the validity of Tax Numbers or Bank Accounts

Allowance

Short Definition: Allowances are amounts that contribute to an employee’s gross earnings. In the PayGlobal system an Allowance record is accessed via the Allowance form. An Allowance applied to an employee for a pay sequence is an Allowance Transaction.

Annual assessment (Child support)

The amount a paying parent is assessed to pay on a yearly basis

Assessment calculation (Child support)

The income we base your assessment on. For salary and wage earners, this is income from one year ago. For others, such as self employed contractors, it is income from two years ago.

Associated person (FBT)

Someone associated with the employer or employee by blood, marriage, business partnership, or shareholding interest.

Attributed benefit (FBT)

A fringe benefit that an employee has the principal use or enjoyment of during the year. Certain rules and thresholds apply.

Attributed income (FBT)

The attribution rule and how it applies for FBT purposes.

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