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Payday filing for Employers

As of 1 April 2019 the way companies have to report payroll to the IRD is significantly changing in New Zealand. All employers need to ensure they are compliant. The new payday filing requirements mean employers will need to complete employee payments to the Inland Revenue (IRD) every pay run. A new seamless connection between IRD and your payroll system is needed to handle the increased reporting frequency. This means every affected employer will need to either upgrade or replace their payroll system by 1 April 2019 in order to comply with their new reporting obligations.

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Payday filing for Employers

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  1. G E T RE ADY F OR PAYDAY F I LI N G , NZ ON EFFECT 1st April Doing nothing is not an option

  2. P A Y E F I L I N G I S C H A N G I N G The change in the tax system is to make it simpler and faster Improving how you manage your PAYE is an important part now!

  3. W H A T I S P A Y D A Y F I L I N G Payday Filing is a New Zealand government initiative for improving the administration of PAYE to benefit businesses and employees Payday filing is mandatory from 1 April 2019

  4. If your total PAYE/ESCT is less than $50,000, for the previous year ending on 31 March 2018 you can file using-- Online portal by paper returns (but only from April 2019)

  5. O N L I N E P O R T A L F I L I N G There are three ways you can file online- Direct from your Payroll Software By uploading the file in myIR On-Screen in myIR

  6. Payroll software is user-friendly. It directly sends information, like salary, wages, PAYE or any other deductions to IRD at the same time as you pay your employees. For myIR, follow the given steps Remember: Once you've opted into payday filing during the voluntary period, you can’t move back to the monthly filing process.

  7. PAPER RETURN FILING For paper returns you can choose to either: File the Employment Information Schedule within ten working days of paying staff, or File two Employment Information Schedules — on the 15th of the month and the last day of the month.

  8. "PAYDAY FILING"- NEED In total, there are approximately 50,000 employers in New Zealand. They all need to transition to payday filing within a relatively short time duration. PayDay filing is an opportunity which will help in broadening the existing business systems.

  9. TandemNZ CAN HELP Now is a perfect time to start using payroll software if your company doesn’t have it already. Don’t wait and end up in a last-minute rush, get in touch with us for the payroll integration services now.

  10. THANK YOU or more details on PayDay Filing check the blog

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