All employers will need to switch to payday filing by 1 April 2019.  What does this mean for you as an employer? The Employer Monthly Schedule (IR348) is being replaced and needs to be filed after every payday.  You still need to file an Employer Deduction form (IR345) and pay PAYE by the 20th of the month for small businesses and twice a month for large businesses.

If you want to get into the swing of it earlier you can - this means you get all the transition issues sorted out before March.

There are 3 ways you can file online:
• Direct from your payroll software (if supported)
• File upload in myIR
• On-screen in myIR

Additional information that will be included in the Employment Information Schedule will be your employees date of birth and their contact address – therefore you need to obtain this information when a new employee starts.

You must file online if you make employer deductions of over $50,000 a year or more. If your total is less than $50,000 for the previous year ended 31 March you have the option to file paper returns.

Don’t get caught out! Choose which category you fall into and be prepared for these changes. Either contact us or your payroll software company and discuss how to file the new schedule. If you don’t already file online, now is a good time to create a myIR account with Inland Revenue and familiarise yourself.

 

Payday Payroll Filing