Due to the recent drop in interest rates by the reserve bank, the fringe benefit interest rate on low or interest free loans will now be 6% instead of 6.5%.
Once again there are some features that have been released but not announced yet:
- Vastly improved reinstatement: If an employee has left your company, possibly works for someone else, but later returns, you longer have to capture them as a new employee as with most payroll systems. Just re-instate them and the system will start a new service period for them.
- Skills & Equity: You can now enter demographic info used for EE and Skills reporting. The reports are coming soon, but at least you can get started on getting the data ready.