Employers should be aware of upcoming changes to IRD Payroll obligations.
From 1 April 2019, Payday filing will come into effect. Make sure your Payroll system is able to report payroll information directly to Inland Revenue each time you pay staff.
There has been a change to the law which means that all employers must switch to payday filing by 1 April 2019. It is currently voluntary until the 1 April.
The changes will mean that IRD will get details of your employees on a timely basis. The information provided includes some new items such as details about exiting and new employees.
You generally need to file electronically if your annual PAYE and ESCT deductions are $50,000 or more and file your information within two working days after the payday.
If you file by paper (<$50,000) you’ll need to file your information within ten working days after the payday, or 15th and end of month if you choose to send information twice a month.
Going forward there will be no need to file Employer monthly schedules or Employer deduction forms.
Lindsay, Thijs or Wendy are able to advise on the best applications for Payroll to take the stress out of your PAYE and Payroll obligations.