There are changes coming from the IRD that will require EVERY employer to file their IRD reports after every pay day, AND, the electronic reporting threshold has been lowered so you may be required to meet that by March 31 too.
From the 1 April 2019, new payday filing requirements from Inland Revenue mean that all employers must:
File employment information every payday instead of an Employer monthly schedule (IR348).
Provide new and departing employees' address information, as well as their date of birth - if they have provided it to you.
File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50,000 or more (roughly 6 or more full time equivalent employees).
So, you have to file every pay day, timelines are shorter, and more information is required. You are going to need a myIR account set up. Our recommendation is to move to an electronic payroll system now. Don't wait until March! Or we can do it for you.
Contact us now to see what you need to do to be compliant! Click here.