Inland Revenue Department Payday Filing for PAYE Returns – Update
In the last newsletter, we raised the online filing requirements will become mandatory from 1 April 2019.
We have become aware that recent IRD communications directly to taxpayers have caused some confusion, especially as they try to encourage taxpayers to register for Payday Filing within the voluntary registration period. We also understand that IRD may contact employers directly by phone to enquire where you are likely to register from.
Here’s what you need to know if your annual PAYE/ESCT is $50,000 or more:
- From 1 April 2019, employers must file electronically (from payroll compatible software or through myIR) each pay period and within 2 working days after the payday.
Here’s what you need to know if your annual PAYE/ESCT is less than $50,000:
- From 1 April 2019, employers can continue to file by paper, alternatively, you can file electronically. Filing will be required within 10 working days.
Along with submitting payroll information, the employer will need to disclose certain employee details along with employment commencement and end dates.
Early in the New Year, we will contact all our clients that are Employer’s to assist with these new requirements and how these will impact you.