Wednesday Feb 27, 2013

Legislative Updates for PeopleSoft Global Payroll Australia

Changes in Taxation of Back Payments, Commissions, Bonuses and Similar Payments

The ATO (Australian Tax Office) has issued amendments to the taxation rules on Additional Payments made in the form of back payments, commissions, bonuses and similar payments (Including lump sum payments in arrears) effective from 1st July, 2013.The amendment necessitates changes in calculation arising out of revised definitions of certain key components and treatment of various Additional Payments.

Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1532030.1.”

Thursday Feb 14, 2013

EBICS Transfer Protocol and SEPA

A new feature has been delivered in Cash Management 9.1 to support EBICS transfer protocol and enhance SEPA compliance in Europe.

SEPA (Single European Payment Area) is a banking format shared across 31 European countries, for credit transfers and direct debits in Euros. The project was initiated in 2008 and SEPA format adoption is expected to become mandatory for all transactions in Euros in February 2014.

As SEPA impacts payroll payments, Oracle PeopleSoft delivered a solution in Global Payroll 9.1 back in July 2011, leveraging its comprehensive and flexible payment solution Financial Gateway from the Cash Management financial module. Financial Gateway supports almost all banking formats currently in use around the world and enables customers to manage the end-to-end banking process. Additionally, Financial Gateway enables to maintain banking formats easily, whenever format specifications are updated.

Along with the SEPA project, the banking industry in France performed some changes in infrastructures used to carry banking files, which led to decommission of some former transfer protocols and enforce the EBICS protocol as the sole vehicle to carry SEPA files.

In order to support this additional change, and ensure a full SEPA compliance to its HCM and FMS customers, Oracle PeopleSoft delivered a new EBICS connector to support EBICS based banking communications. Refer to doc ID 1526912.1 on My Oracle Support  for more information. This update is available under the resolution ID 889157 and included in the FMS 9.1 bundle 24.

Please direct any questions to deepa.saoji@oracle.com .


 

Wednesday Feb 13, 2013

Legislative Updates for PeopleSoft Global Payroll Malaysia

SOCSO retirement age changes from Jan 2013

With effect from 1 Jan 2013, Employee Social Security Act (amendment) 2012 amends disability pension scheme age eligibility limit from 55 to 60 years. Employers are required to contribute the SOCSO Contribution according to the First contribution rate type for Employment Injury Scheme and Invalidity Pension Scheme until their employee’s achieve 60 years.

Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review the position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1528264.1.

Tuesday Feb 05, 2013

Keeping up to date with PeopleSoft Global Payroll Brazil Legislation Changes

Information outlining the 2012/2013 DIRF and RAIS legislative changes has been posted on  My Oracle Support, Document ID 1526487.1.   

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This blog is dedicated to topics focused on legislative updates to PeopleSoft Applications including Human Capital Management and Financials.

For other useful information about PeopleSoft Applications see the PeopleSoft Applications Strategy Blog.

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