As you may be aware, the way in which you report your employee tax, social deductions and superannuation information to Inland Revenue is changing from the 1st April next year with the introduction of what IRD is calling Pay Day Reporting.
This information, as the name suggests will be reported every time your employees are paid as opposed to once a month, which is currently the case. We last posted about this change here.
Datacom is working closely with IRD to develop this functionality and plans to have this in place by February 2019. For those that use Datacom payroll systems to file your monthly EMS reports on your behalf, you will notice very little difference, as the reporting on a pay day by pay day basis will continue to be managed by Datacom.
For those that report this information yourselves, we will provide you with a file so that you can manually upload this through myIR each pay day. You may want to change to automatic filing when Pay Day Reporting comes about to avoid what was once a monthly task becoming something that you have to do every pay run.
IRD has organised a series of introductory sessions on Pay Day Reporting from late September through to November up and down the country. This is an opportunity to hear directly from IRD about the changes and why they are putting them in place. They will also answer any questions that you might have.