The IRD have recently sent us an update on their improvements and we would like to keep our clients in the loop so there’s no surprises.  Listed below is a brief update on the changes that are coming up:-

• PAYDAY FILING – Remember the law has changed. Employers that haven’t already switched to payday filing must do so by 1 April 2019. 
• IR-FILE WILL BE DISCONTINUED – The ir-File service in myIR will be discontinued on 11 March. Anyone still filing monthly schedules must use the ‘payroll returns’ account in the Business tab section of myIR to file EMS and employer deductions.  The payroll returns account will automatically become available in myIR from 28 February 2019 for you to bring into your workspace.
• END OF YEAR INCOME TAX PROCESS FOR INDIVIDUALS – Legislation for a new way of finalizing end of year income for individuals may be passed shortly. The IRD “changing for you” campaign will start again soon advising customers of the proposed changes.  For information about automatic tax refunds and other proposed changes go to the IRD website here.
• INVESTMENT INCOME CHANGES – Everything you need to know about investment income, such as new filing dates and reporting frequency, is available on the IRD website here.
• MYIR – From April myIR will have new tax types, additional tools and reporting, including a new Extension of Time dashboard.

If you have any queries about these changes, please contact us on 09 636 3332!