MYOB Greentree now supports Payday filing, an Inland Revenue Department (IRD) payroll reporting initiative that becomes mandatory on 1 April 2019. With Payday filing, employers send employment information schedules to the IRD when they pay their employees
The New Zealand government took steps to enable digital interactions between Inland Revenue and employers. A bill was passed that will change the way PAYE is reported. These changes will mean employers like you will no longer be required to file an Employer Monthly Schedule. Instead, employers are required to file within two days of paying so it doesn’t have to be on the day they pay staff. Known as Payday PAYE, these changes will be mandated from 1 April 2019, meaning every employer will need to be compliant by this date.
MYOB worked closely with NZ Inland Revenue and built the required functionality into your payroll software to enable you to stay compliant.
Payday PAYE is designed to reduce the number of payroll processes (removing the Employer Monthly Schedule), decrease the number of deduction errors, lessen the chance of incurring fines for missing a file date and, perhaps most importantly – cut the amount of time you spend on payroll compliance!