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Payroll Pain Relievers

Thursday, February 14th, 2019

Payroll Pain Relievers

With New Zealand ranking as one of the most complex payroll environments in the world, it’s no wonder many Kiwi employers choose to offload payroll headaches to bookkeepers, accountants, or payroll intermediaries. This trend is picking up steam: with Inland Revenue’s “Payday Filing” scheme kicking off 1 April 2019, instead of reporting PAYE to Inland Revenue on the 20th of the following, you’ll need to report every payday (though some employers may have different situations and can choose otherwise).*

The bad news? With anti-money laundering rules in effect, even getting someone else to do your payroll is about to get more complicated.

If we’re handling your payments to staff or Inland Revenue, we might need to get more information about your business and identity.

If you’ve got someone else handling these payments, like a bookkeeper or a payroll service provider, they might need to do the same thing. If you can’t get into the office to meet with them, this might include tasks like getting a copy of your driver’s licence certified by a JP or lawyer. Good fun.

If you’d like us (or whoever helps you with your payroll) to take care of payroll calculations so you don’t need to spend time becoming a holiday pay guru, we could migrate you onto a suitable platform  for the best of both worlds – Payday Filing and AML payroll headaches sorted!

Don’t hesitate to get in touch with one of our team members if you would like to know more.

 

* content courtesy of Accelerate.