If you’re employing staff, you’ve probably heard that your PAYE filing is going digital on April 1 2019 under the Inland Revenue’s “payday filing” scheme. Here’s what you need to know.
Are you Affected?
Kiwi employers paying over $50,000 PAYE and Employer Superannuation Contribution Tax (ESCT) per year will need to move to payday reporting on or before 1 April 2019.
If you’ve got four or more staff earning an average wage, or ten or more earning minimum wage, you’ll likely be caught by the changes. If not, you can skip this article. Good for you.
The Employer Monthly Schedule (EMS) you currently send in once a month (or twice if you’re a large employer) will be replaced with electronic filing to the IRD within two business days of payday. Yep, that probably means more time spent on admin if you’re not careful.
If you’re calculating pays and filing PAYE manually, your admin workload is about to go up. It might be time to consider using a service that takes this off your plate.
If you’re already using payroll software, or your accountant handles your pays, talk to your provider and make sure they’ll be ready by 1 April next year. Some aren’t making the leap, so you may want to look at alternatives.
PaySauce handles the lot
PaySauce is delicious cloud payroll that you can run on the go from a laptop or smartphone. It includes digital timesheets and payslips, the standard payroll calculations you’d expect, and automated banking and PAYE filing.
PaySauce customers won’t notice a thing when payday reporting kicks in - filing will be automatic and real-time.
If you need to make a change to the way you handle timesheets, payroll, or PAYE filing, call us for a chat or register now.
For a more in depth read on payday filing click here to go to the IRD website.