Do You Pay Staff?
Pay Day Filing – What Is It?
🔸 A requirement to report employment information to the IRD;
🔸 Compulsory from 1 April 2019;
🔸 Each time you pay staff, you’ll need to file employee information to Inland Revenue within two days;
🔸 Provide new and departing employees’ address information, as well as their date of birth – if they have provided it to you;
🔸 You must file electronically (from payday compatible software such as Xero or through myIR) if your annual PAYE/ESCT is $50,000 or more;
🔸 Due date for payment remains the same at the 20th of the month (or 5th and 20th of the month for twice-monthly filers).
You can choose to move to payday filing before April 2019 BUT paper filers can’t switch to payday filing before April 2019 unless they change to electronic filing.
To make your life easier you’ll want to use a Payroll software that integrates with MyIR and can do most of this for you – cutting down your admin time.
If you get stuck or have any questions, feel free to let us know