Will your current payroll system allow you to file the required information within the time frames that IRD has introduced ?
Do you pay contractors who have withholding tax deducted ?
Are you ready ?
From 1 April 2019 employers must:
File employment information every payday, within 2 working days, instead of on the Employer monthly schedule (IR348)
Provide new and departing employees' address information, as well as their date of birth - if they have provided it to you
File electronically if your annual PAYE/ESCT is $50,000 or more.
There are no changes to current payment due dates or the way you pay - pay monthly or twice-monthly like you do now. You will not need to file an Employer deductions (IR345).
How to File ...
Most employers will file online, either through their payroll software or through the myIR system.
If supported by your software provider, you will file directly with IRD through your payroll software.
If you choose to file though the myIR system you will need to opt in first. Your Payroll Returns account will then show in your My Business section. This is where you'll file your return by file upload (if you have compatible software) or by manually keying in the data onscreen.
If you pay contractors, you must either file the details on a payday basis (within 2 days of payment) or on a twice-monthly basis. This will be either within 2 working days of the 15th of the month of within 2 days of the end of the month.
If BM Accounting is already running your payroll for you, it will be important to meet the new time frame deadlines – especially for those with one off type payments eg shearers. Please let us know as soon as you make any wage payments.
Some employers have the choice of filing on paper only if PAYE and ESCT deductions are less than $50,000. Note that paper filing is only available from April 2019. If you opt in to payday filing earlier than April 2019 you must file electronically.
What do I need to do ?
Check your current payroll system will cope with the new changes. Most payroll software providers are releasing upgrades now and will be ready by 1 April.
If you are unsure of these or any other payroll issues, the time is now to get this sorted. It is also an opportune time to ensure your payroll documentation is up to date and compliant.
One of our payroll specialists in our Waipawa or Havelock North office are able to help tailor a solution specific to you.
Amanda, Karen and Rachael in Waipawa – Phone 06 8578901
Pam, Melissa, Alison and Michele in Havelock North – Phone 06 8767159
HELPFUL VIDEOS TO WATCH
"How to let us know you are shifting to payday filing”
Also some payday filing demos: : https://www.ird.govt.nz/help/demo/payday-filing/#03,
Scroll to the bottom of page and look at the videos on “Payday filing through myIR Secure Online Services using the file upload method”
or “How to payday file through myIR Secure Online Services using the online entry method.”
If you don’t have myIR access and you need to allocate access to someone else, here is the form