Holidays Act Remediation

Please complete the application form.

The Holidays Act 2003 is complex legislation with varying calculations and entitlements for different leave types. As a result, many New Zealand employers have found it challenging to apply the legislation correctly when calculating entitlement to and payment for holiday pay and other forms of leave.

ASB has been thoroughly reviewing its historic and future payroll processes to ensure that we fully comply with the Holidays Act.

As a result of our review we have discovered that some former ASB employees may have been under paid and may not have received the right entitlements. This primarily affects former employees who worked variable and unpredictable work patterns or who worked above their contracted hours. ASB will communicate with affected former employees if they are eligible for a back payment.

Not all former employees are impacted by this remediation. Some former employees had their leave and entitlements correctly calculated throughout their time at ASB.

This issue affects some individuals employed by ASB between 18 December 2012 and 31 March 2020.

It primarily affects former employees who worked variable and unpredictable work patterns or above their contracted hours. However, some former ASB employees who worked regular hours of work pay may also be affected. The recalculation of leave payments also affects employees who took annual leave in advance after returning from Parental Leave (prior to 10 November 2018).

The remediation covers the time period between 18 December 2012 and 31 March 2020.

If you are a former employee and you are entitled to a back payment, we will attempt to contact you by December 2020. If you don’t hear from us but believe you are entitled to a back payment, please fill in our request for recalculation form here.

If you are a former employee entitled to a back payment, we will contact you by December 2020. If you don’t hear from us but believe you are entitled to a back payment, please complete the application form.

The amount of your back payment will vary based on your working patterns and leave patterns while at ASB. Each payment will be individually calculated.

Your back payment will be taxed as a lump sum payment. You can check the IRD website at www.ird.govt.nz to see if your total earnings, including your holiday back payments for this financial year, take you into a different tax bracket. You may also want to seek independent tax advice. Further information about lump sum payments can be found in this IRD factsheet: IR1046 Getting lump sum payments

PAYE, as well as other deductions such as student loan repayment and KiwiSaver contributions, will automatically be deducted at the time of payment. These deductions will be based on the information provided to us on the form you are required to complete.

KiwiSaver contributions will automatically be deducted at the time of payment and associated employer contributions will be matched appropriately.

Child support has not been deducted from your back payment. You may need to advise the IRD that your family income has changed. You can do this at any time online through myIR at www.ird.govt.nz or you can call the IRD on 0800 227 773. The Inland Revenue website has a useful factsheet regarding lump sum payments such as an arrears payment: IR1046 Getting lump sum payments 

Your back payment may affect your Working for Families entitlement or disability allowance for the year ended 31 March 2021. Please refer to www.ird.govt.nz or call the IRD on 0800 227 773 you need further information.

If you were owed less than $1, ASB has rounded it up to $1 in order to calculate tax and KiwiSaver contributions.

If you receive an email about a back payment and would like to know any details about how it was calculated, please email payreview@asb.co.nz

Please email payreview@asb.co.nz