PaySauce Launches Payroll Giving Feature
Wellington, 4 February 2020 - Employment solutions provider PaySauce (NZX: PYS) today announced the launch of a payroll giving feature to encourage charitable giving among the 13,000 employees paid via PaySauce payroll software. The feature will help those employees effortlessly contribute to their chosen charities via the PaySauce mobile application.
By law, payroll giving grants a 33% tax credit on charitable donations. Using the Payroll Giving feature in PaySauce payroll, employees can set up their own donations via the mobile app. Users choose from a range of preloaded charities and their contribution is processed directly with each pay run, with their tax credit automatically calculated and deducted from their PAYE tax.
The simple solution removes the practical challenges of payroll giving, radically streamlining the process of contributing to charities. Employees no longer have to make a direct donation request to their employer, which can also be restricted to charity/charities supported by the employer.
One of the first charities on this new feature are Rural Support Trusts, a network of charitable trusts supporting farmers, workers and their families. A range of major New Zealand charities have also been made available at launch, with further organisations to be added to the PaySauce app over the coming weeks and months.
PaySauce CEO Asantha Wijeyeratne says the Trusts’ mission aligns perfectly with PaySauce’s values. “The rural sector has done so much to support our business, and we’re grateful for the chance to support them in return.”
This project continues PaySauce’s investment in charitable causes and responsible business practices. The company’s other innovative features include Pay Advance, which helps employees access money they've already earned before payday. Designed to combat predatory payday lending, employees can use the mobile app to request a pay advance from their employer.
Internally, PaySauce is an accredited Living
Wage employer with flexible employee initiatives such as an
internal Volunteer Time Off policy. The company is also a
long-time supporter of Wellington’s 1%