Our payroll system aims to take the pain out of payroll by keeping things easy and simple and paying you on time.
Contracting has great benefits such as higher pay, the ability to claim expenses and the freedom of where and when you work.
As a contractor, you are also responsible for paying your own tax, ACC levies, filing GST and year-end Income tax returns and the associated compliance risks.
Should you commence a contract with Absolute IT, your relationship with Absolute IT is that of a self-employed person and accordingly, you are responsible for the payment of all taxes and other payments applicable under existing law including, but not limited to, GST, Withholding Tax, Income Tax and Accident Compensation Corporation levies.
We recommend you sign on with an accounting partner to ensure all compliance requirements are met in accordance with tax laws.
Provisional Tax is a form of income tax payment that is based on estimates of income in the current taxation period, for self-employed individuals or organisations. This form of taxation is applicable to self-employed contractors who elect to be responsible for paying their own taxes direct to Inland Revenue.
GST is a Government imposed Goods and Services Tax, and is charged on all services supplied by our contractors at a rate of 15%. A GST registered contractor is expected to provide for and pay GST as directed by the Inland Revenue.
If you expect to invoice more than $60,000 in a 12 month period then you must be GST registered and you must charge GST to your clients. For more information please visit the IRD website.
Absolute IT uses an online time sheet and payroll system that ensures all contractors are paid on time for services rendered. We take all responsibility for collecting monies invoiced to the client.
All contractors get paid on, or around the 10th of each month via direct credit for the previous month’s work. Each contractor is given a payment schedule detailing time frames for sending documents to Absolute IT, and the exact date each month’s payment will be credited to their accounts, when they sign their contract.
If you miss your timesheet and invoice deadlines your payment may be delayed. If you think you may have trouble meeting the deadlines please contact our finance team to discuss options. For all payment dates, please refer to the schedule below:
Payment Schedule 20/21
April 2020 12/05/20
May 2020 11/06/20
June 2020 10/07/20
July 2020 12/08/20
Aug 2020 10/09/20
Sept 2020 12/10/20
Oct 2020 11/11/20
Nov 2020 10/12/20
Dec 2020 14/01/21
Jan 2021 11/02/21
Feb 2021 10/3/21
Mar 2021 14/04/21