Payday filing for all employers

Written by Gordon

March 11, 2019

From 1 April 2019, payday filing will be compulsory for all employers.

Payday filing means you need to:
 
File employment information every payday instead of an Employer monthly schedule (IR348) at the 20th of the following month.

(1) Provide new and departing employees’ address information, as well as their date of birth – if they have provided it to you. 

(2) File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50,000 or more.
 
Remember, the due date for payment remains the same at the 20th of the month (or 5th and 20th of the month for twice-monthly filers), but the PAYE return date will be due within 2 days of when you pay your employee. You will need to file this electronically, not by paper. 
 

“From 1 April 2019, payday filing will be compulsory for all employers. This change means that all employers should be using a payroll software, as any manual calculation and processing of payroll becomes increasingly impossible to do.” 

How do I payday file?
 
There are three ways to file electronically – direct from payroll software, such as Smartpayroll, file upload from myIR or onscreen via myIR.
 
Please visit this link if you need more information. 

https://www.ird.govt.nz/campaigns/2018/campaign-payday-filing.html 

What does this mean for my business

If you’re currently using Smartpayroll through our firm, then you will have nothing more to do, as Smartpayroll will handle everything for you. 

However, if you’re still filing PAYE returns using the paper form, then you will need to switch to a payroll software such as Smartpayroll. On a practical level, this change means that all employers should be using a payroll software, as any manual calculation and processing of payroll becomes increasingly impossible to do. 

Related Articles

Ring-fencing of rental losses

Ring-fencing of rental losses 0 Comments Residential Rental Properties: Tax Changes The Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill was introduced into parliament late last year and is currently in the select...

Airbnb usually a tax case on its own

Airbnb usually a tax case on its own 0 Comments   If you use Airbnb to provide short-term accommodation in your house in which you also live, the IRD’s “mixed-use asset (holiday home)” rules don’t apply and guests are not classed as boarders. Except when you list a...

Capital Gains Tax Update

Capital Gains Tax Update 0 Comments   The Tax Working Group in its final report released today is recommending a broad extension of taxing capital gains, and consideration of environmental taxes, changes to personal income tax thresholds, retirement savings, and...

Stay Up to Date With The Latest News & Updates

Join Our Newsletter

Stay up to date with all of the latest news and insights related to your business. Sign up below and we promise to only send you content