Get ready for payday filing
Payday filing is less than a week away from becoming mandatory so Inland Revenue is making sure all New Zealand employers are set up and ready to go from April 1.
This is when employers will be required to send their payroll information to Inland Revenue whenever they pay their staff.
Inland Revenue Customer Segment Leader Richard Owen says the focus is firmly on helping employers get that first filing under their belt.
“Around 51,000 employers have already started and the rest have been set up with a payroll account in myIR so they can payday file for the first time in April.
“The payroll account sits within the ‘My Business’ section in myIR and has been available to all employers for the past couple of weeks to allow them time to familiarise themselves with the new system in advance.”
Guides on the Inland Revenue website (search “payday filing”) show employers exactly what they need to do.
”I would encourage employers to examine those guides on our website and have a good look around the payroll account in myIR before their first April payday,” says Mr Owen. “Also, it’s a good idea to take some time to make sure whoever does the payroll has the correct access and permissions.”
Some employers will have one more filing cycle to complete next month under the old method, but payday filing still starts from the first April payday.
Final Employer Monthly Schedule and Employer Deductions forms for March can be submitted in the payroll returns account.
Richard Owen says Inland Revenue recognises that businesses are busy and that’s why some employers have left the payday filing requirement right up until the deadline.
“We have been gearing up for this by communicating directly to employers about exactly what they need to do and having extra staff on hand to deal with their queries.
“Fortunately, we know that awareness of payday filing is very high so this shouldn’t be news to the country’s employers – our focus now is to help get them started.”
There are multiple ways to payday file and employers are tending to choose the option that best suits their business.
Payroll software is proving popular as it is linked to Inland Revenue’s systems to allow the information to flow directly. In addition, a number of employers are choosing to file using myIR, where they can upload files from their software or enter the information themselves.
“The main thing we want employers to know is that we’re here to help them be ready for mandatory payday filing from April 1,” Richard Owen says.
Check out the payday filing ‘how to' guides at www.ird.govt.nz/payday