The IRD are upgrading more of their systems and here are some of the changes that you can expect from April onwards:-
IMPORTANT – Services Unavailable
The IRD’s key services will be unavailable between 3pm Thursday 9th April and 8am Thursday 16th April. During this time, you will not be able to access myIR or e-File and the IRD’s phone lines and offices will be closed.
- Employer accounts will be combined into a single employer activities (Payroll) account which will include all deductions made.
- Transactions (from employment information returns filed) and payments will show up sooner than they do today.
- You can choose to pay through myIR at the same time you file employment information.
- New fields will be added to the employment information for onscreen and paper filers.
For more information on these and other changes for employers visit www.ird.govt.nz/payroll
Investment Income Reporting
Anyone that provides investment income benefits or payments will need to start filing electronically, in more detail and more frequently from 1 April 2020.
- There is no need to opt in – from 1 April you’ll see new filing options
- If you provide any investment income benefits or payments this year (before 31 March) you’ll need to file your end of year reconciliation by 15 May.
- You must collect 45% Resident Withholding Tax (RWT) on interest when you do not have an IRD number for the person you are paying.
For more information including what, when and how to file, visit www.ird.govt.nz/investment-income
If you have any questions regarding anything you have read, please do not hesitate to call us on 09 636 3332!