The New Zealand Government has passed a bill to make PAYE information reporting mandatory from April 2019. Payday PAYE is part of the Government’s action plan to enable digital interactions between Inland Revenue and employers. The Payday PAYE Bill changes the way PAYE is reported to New Zealand Inland Revenue.
Instead of filing an Employer Schedule (IR348) every month, all businesses will file an Employment Information (EI) return online every payday. The Employer Deduction form (IR345) must still be filed separately as usual.
MYOB is working closely with New Zealand Inland Revenue to build the required functionality into MYOB payroll software to enable the new reporting requirements and help businesses stay compliant.
Payday PAYE is designed to reduce the number of payroll processes (removing the Employer Monthly Schedule), decrease the number of deduction errors, lessen the chance of incurring fines for missing a file date and, perhaps most importantly – cut the amount of time you spend on payroll compliance.
Want more information?
Enprise will communicate with all customers when more information is made available. In the meantime, you can find useful information at the resources below.
If you have any questions about Payday PAYE, please contact your Account Manager directly, or the Enprise Support Team: call us on 0800 436 774 or email us.