From April next year, businesses will be required to file PAYE returns with Inland Revenue every payday, as opposed to once a month.
Currently, Inland Revenue says around 400 businesses are already payday filing, but thousands more will need to join them in the next seven months.
Wellington payroll software provider FlexiTime has been working closely with IRD to pilot payday filing as the department implements changes to its systems, and believes nearly all 400 businesses which have already started payday filing are FlexiTime customers.
"The new approach is a positive change for businesses who want to save time and money, but our message to businesses is, ‘don’t leave making the switch to the last minute’," FlexiTime Chief Marketing Officer, Jake Harvey, says.
"Based on our experience to date, it will take each payroll software provider some time to get payday filing up and running smoothly.
"Be sure to check your provider will be offering payday filing and get clarity as to when that will be. Many older or desktop-based systems won’t be compatible. . . . . >