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.”

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.

Monday Oct 29, 2012

Legislative Updates for Global Payroll India


Data Structure Changes to F24Q File

The Income Tax Department has revised the data structure in which TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) quarterly returns need to be filed.

This has an impact on the Q4 returns filed for the financial year 2012-13. The Change in FVU 3.6 (File Validation Utility) will accept submission of e-TDS returns in the revised data structure only.

Our Position Statement has been updated. 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 1401142.1

Friday Aug 17, 2012

Legislative Changes for Global Payroll Spain

Rules have been updated in PeopleSoft Global Payroll Spain in order to adjust for the changes in termination rules introduced by the new labor market regulations in Spain after final approval of Law 3/2012. Additionally software changes have been made to react to the changes introduced in the Royal Decree 20/2012.
The Position Statement has been revised to include more details about these legislative updates, the patch availability and pre-requisites.
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 1388909.1.

Wednesday Mar 14, 2012

UPDATED: Peoplesoft Benefits and Payroll for North America - How does the new Healthcare Legislation impact your PeopleSoft products?

On May 23, 2011 we posted our first blog about the new Healthcare legislation and how it will impact the PeopleSoft Benefits and Payroll for North America products.  Here is a link to the original blog. https://blogs.oracle.com/peoplesoft/entry/oracle_peoplesoft_benefits_and_payroll1.

The "Patient Protection and Affordable Care Act" (PPACA) (P.L. 111-148) and the "Health Care and Education Reconciliation Act of 2010" (H.R. 4872) were signed into law March of 2010. This legislation continues to evolve with new or revised requirements.  The PeopleSoft team has been monitoring this legislation and the impacts it has on the PeopleSoft Benefits and Payroll for North America products.   We have revised Position Statement to include new information we have obtained since the last posting.  We encourage you to review the latest Position Statement to keep up to date.  To get this latest Position Statement please click here

Wednesday Feb 08, 2012

PeopleSoft Payroll for North America - Pending Social Security Legislation

PeopleSoft Payroll for North America is closely monitoring the status of legislation currently pending in Congress to extend the current reduced 2012 employee Social Security tax rate of 4.2 % beyond its currently scheduled expiration at the end of February. 

If the current reduced employee Social Security tax rate of 4.2 % is extended to remain in effect for the entire 2012 tax year, customers will not be required to take any action, and no product modifications will be required or delivered.

If the current reduced employee Social Security tax rate of 4.2 % is not extended, and the tax rate reverts to the higher rate of 6.2 %, PeopleSoft Payroll for North America is prepared to act quickly to immediately provide customers with the necessary product modifications to implement the higher tax rate as soon as instructions are finalized and published by the Internal Revenue Service.  

Under the provisions of the legislation that enacted the two-month extension of the lower tax rate, should the lower tax rate not be extended for the remainder of 2012, employers will not be required to retroactively correct or adjust taxes deducted for employees whose taxable earnings exceed the 2012 taxable wage base; any additional tax amount owed by such an individual will be recaptured on the employee’s individual personal income tax return for 2012.

For more information in My Oracle Support, please click here

Friday Jan 20, 2012

Keeping Up to Date with Legislative Changes for Global Payroll Spain

Let the Oracle PeopleSoft team help reduce the stress and anxiety of these legislative changes by staying informed. PeopleSoft is working hard to get you the information you need with just one click. 

Click here to to read about the latest legislative updates for PeopleSoft Global Payroll Spain in Document ID 1388909.1.

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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.

For information about PeopleTools see the PeopleSoft Technology Blog.

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