Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Payroll Becoming Increasingly Difficult - Study

Payroll Becoming Increasingly Difficult - Study

Business owners are finding payroll management an increasingly difficult and time-consuming task, especially since the introduction of the Holidays Act, according to a new study.

The survey of 528 hospitality businesses from around the country has just been released by MYOB, New Zealand's leading provider of business accounting solutions, and the Hospitality Association of New Zealand.

According to the study, almost three quarters of respondents are taking longer to do their payroll since the Act came into force, and nearly 30% have had to increase resources to manage their weekly payroll requirements.

On average, businesses surveyed employed over 19 staff, with more than half of those working part-time.

MYOB Business Division manager Paul Jennings says compliance, particularly with changes in legislation, is one of the key concerns of New Zealand businesses.

"This survey of the hospitality industry is a good illustration of the increasing burden businesses face when dealing with accounting and reporting issues."

"In particular, as this study shows, changes like this are most often felt directly by the individual business owner."

According to the survey, more than 50% of business owners personally prepared their business' payrolls and almost 40% of the businesses surveyed still prepared their payrolls manually.

"We believe that finding ways of decreasing the burdens faced by business owners in the current environment is vital," says Paul Jennings.

"One of the keys to this is providing ways for businesses to manage their compliance requirements more effectively and efficiently, such as using software like MYOB Payroll, which is regularly updated to take into account the latest legislative changes."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>