Interest Rate Change and New Features

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.