Payroll Localised - Jamaica
The following were improved:
1. FCIB ACH.
2. ADV Customised Pay Slip.
3. Income Tax Methods.
4. Pensioners' Tax Allowance.
5. NIS Schedule.
1. FCIB ACH
The First Caribbean International Bank (FCIB) ACH Download was added.
POWERpay Payroll>>Payroll Reports>>Payroll Reports>>Payment Reports>>FCIB Jamaica ACH Download:
2. ADV Customised Pay Slip
The following changes were made:
- The Deduction and Earnings boxes were aligned.
- The Employer Deduction section was removed.
- Earning Codes and Leave Codes were differentiated to ensure that there was no mix-up.
- Pay Status is used to display the correct Leave amounts for both non-salaried and salaried employees.
POWERpay Payroll>>Payroll Reports>>Payroll Reports>>Pay Slips>>Option 18:
3. Income Tax Methods
Two (2) tax methods are available for Jamaica:
1. YTD Cumulative Smoothing Method.
2. MTM Non-Smoothing Method
4. Pensioners' Tax Allowance
The tax allowance was implemented in HRplus in accordance with the following statutory directive:
- Pensioners who are entered and are 55 years and over will get the ADDITIONAL TAX ALLOWANCE.
- Pensioners who are entered and are over the age of 65 will get the ADDITIONAL Age Exemption.
5. NIS Schedule
The NIS Schedule ceiling was increased in keeping with Jamaica’s statutory laws effective April 1 2021.
POWERpay Payroll>>Maintenance>>Statutory Deductions>>NI Schedules:
0 Comments
Add your comment