What is PayDay filing?
Compliant Payday filing requires that employee earnings and PAYE information is submitted to the Inland Revenue Department (IRD) each time an employee is paid. Previously, Payday filing was conducted monthly regardless of the employee pay schedule. As of the 1st of April, 2019, Payday filing each pay cycle was made mandatory for all New Zealand employers.
Why is PayDay filing important?
Payday filing ensures that all employee information is up-to-date and accurate, and that sufficient employee payroll information is submitted to the IRD. By staying Payday filing compliant, your employees are having the right entitlements paid and deductions made during each pay cycle.ย
What you need to submit each PayDay
During each payroll run, a report containing the following information needs to be submitted to the IRD for each employee:ย
- Payday date and pay period
- Employeeโs IRD number, tax code, and full name
- Total gross earnings
- PAYE
- Any child support or student loans
- Kiwisaver employee contributions or deductionsย
- Employer Superannuation Contribution Tax (ESCT)
- The relevant dates for any employee that starts or finishes during the pay period
Need help with your payroll matters?
We understand that correctly filing Employment Information each payday may be challenging for business owners. That is why Employment Heroโs compliant payroll is here to help you streamline payday, so you can feel confident each payroll run.ย
Book a demo with us to learn more about automating payroll with Employment Hero.
Disclaimer: The information in this article is current as at 4-Nov-2022, and has been prepared by Employment Hero Pty Ltd (ABN 11 160 047 709) and its related corporate bodies (Employment Hero). The views expressed in this article are general information only, are provided in good faith to assist employers and their employees, and should not be relied on as professional advice. The Information is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified, and no warranties are given that it is complete, accurate, up-to-date or fit for the purpose for which it is required. Employment Hero does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising directly or indirectly as a result of reliance on, use of or inability to use any information provided in this article. You should undertake your own research and seek professional advice before making any decisions or relying on the information in this article.