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Inland Revenue has kickstarted 2019 with their latest announcement that payday filing will become mandatory across the country from April. This change is sure to be made much easier with the help of New Zealand-wide accounting specialists Tutbury & Associates Limited.
The new requirement is that employers must submit employment information every time they pay their staff. This includes the pay details of your employees with the normal pay cycle, employee details for new and departing employees, employees' start and end date, contact details, and date of birth.
Filing must be done electronically if the annual PAYE and ESCT deductions are $50,000 or more and businesses will need to file this information within two working days after the payday.
In their recent article, Inland Revenue has stated that “the new payday filing system works best for employers with payroll software.”
“It’s great to see Inland Revenue becoming more efficient and thorough with the tax system,” says Kelly Tutbury, Accountant and Managing Director at Tutbury & Associates Limited. “But I understand there will be hundreds of small businesses in New Zealand struggling to cope with the ‘electronic’ side of things to meet these requirements.”
Fortunately, this is where Tutbury & Associates Limited shines brighter than the sun because taxation is one of their core specialities. The expert team can help your business with all taxation needs and liaise directly with the Inland Revenue on your behalf!
“If numbers aren’t your thing, leave it all to us. From just $55 a month, we offer a range of essential services that will allow your business to run smoothly, including financial planning, business accounting, taxation, end of year reports, and more,” says Kelly.
The company is proud to be a Xero Gold Certified Partner and can offer a variety of Xero bundles that cater to your individual needs. This includes organising your payroll through Xero.
With years of experience and a wealth of knowledge in the field, handling the new payday filing system is just a piece of cake for Tutbury & Associates Limited.
About Tutbury & Associates Limited:
Tutbury & Associates Limited has worked hard to build their reputation of excellent customer service by working interactively with their clients and making sure that their clients get value for money. They are ideal for ideal for trades people, or anyone who wants to grow their business.
Contact Tutbury & Associates Limited:
Phone: 07 576 2194
Address: 23 Myres Street Tauranga
Phone: 0274 587 724