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Oracle New Zealand Payroll - Payday Filing
NZ Inland Revenue have recently released this email on Payday Filing. Is there any documentation on how Oracle are preparing for this?
Calling all payroll officers, payroll managers, tax managers and CFOs
Please share this email with others in your business who manage payroll.
What is payday filing?
Instead of filing an Employer monthly schedule (IR348) every month, you’ll file employment information every payday in line with your normal payroll cycle.
Note: with payday filing you’ll continue to file your employer deductions and pay on the 5th and 20th of each month.
Why is this required?
The law has changed so you must shift to payday filing by 1 April 2019. Providing us with more timely information means we can provide your employees with more certainty about their tax and benefits position (eg Working for Families Tax Credits).