Understanding Your Payslip
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Key Notes
Gross vs net pay
Your gross pay is what you earn before any deductions. Your net pay (take-home pay) is what actually lands in your bank account after PAYE tax, KiwiSaver contributions, and ACC levies are taken out.
KiwiSaver on your payslip
If you're enrolled in KiwiSaver, you'll see a deduction of 3%, 4%, 6%, 8%, or 10% of your gross pay. Your employer also contributes at least 3% on top. This money goes into your KiwiSaver fund and compounds over time.
ACC levy
The Accident Compensation Corporation (ACC) levy is a small deduction that funds New Zealand's no-fault accident compensation scheme. It means if you're injured — whether at work or on the weekend — your treatment and lost income may be covered.
Quick Check
0/2 answered
Q1.What is 'net pay'?
Q2.What is the minimum KiwiSaver contribution rate for employees?