Payday filling is here for employers
March 20, 2019
From the April 1st, every time you pay staff, payroll information must be filed with Inland Revenue. Under the current system information like the amount of tax a staff member has paid, or their contributions to KiwiSaver is contributed through the Employer Monthly Schedule.
Now, Inland Revenue will have this on a timelier basis. The due date for payment will stay at 20th of the month, or if you file twice a month, the 5th and 20th of the month. You won't need to file an Employer deduction (IR345)
To make the switch there are three steps to get ready:
- Review your payroll processes plan and schedule when to shift
- Make sure you are using payday-filing compatible software
- Update myIR to reflect the date that you will be making the switch.
One you're all set up, there are three ways that you can file your information:
- Directly from your compatible payroll software
- Through the file upload from your Payroll returns account in myIR
- Online in your Payroll returns account in my IR.
There is not long to go, if you need assistance please contact us
Contact us today for your no-obligation consultation.