Payday filing has been available to employers since April 2018, and from 1 April 2019 it will become mandatory.
Inland Revenue have been writing to employers to remind them to start preparing for the shift to payday filing.
Payday filing means instead of filing an Employer Monthly Schedule (IR348) and Deduction Form (IR345) each month, employers must file their employment information each payday, in line with their normal payroll cycles. PAYE payment dates will remain the same.
So if you haven't already, now is the time to start assessing your current payroll processes, and how these may need to be adjusted for payday filing.
Inland Revenue have put together a range of resources to help payroll practitioners understand, and prepare for, payday filing, including webpages, seminars and webinar:
Inland Revenue nationwide seminars
Inland Revenue will be running seminars throughout the country from September to November 2018, where they will outline what the changes will mean for employers and payroll managers, and attendees will have the opportunity to ask questions.
Click here for Inland Revenue's webpage to register your interest in one of their NZ-wide seminar dates.
IRD note that spaces are limited so early registration is advisable. Each attendee must complete a separate online registration.
Inland Revenue on-demand webinar
If you are unable to attend a seminar you can register for the free 45-minute Inland Revenue webinar, run in conjunction with CCH Learning, where they will share information on payday filing and how to get prepared.
Click here to register on CCH's website. After registering you will be emailed a link to the on-demand event, as well as a link to download the PDF workbook.
Have questions about how payday filing may affect your business? Contact Vicki Cozens, our employment, HR and payroll specialist, for help and advice.