32% of medium and large businesses are failing to meet their Single Touch Payroll reporting obligations and may be subject to ATO penalties from 1 July 2019.
Your EOY reporting is about to become a lot easier. Under Single Touch Payroll you are no longer obligated to issue payment summaries or submit a payment summary annual report.
77,399 employers have commenced Single Touch Payroll reporting. 61% of these businesses employ 20 or more staff. The remaining 39% have 19 or less employees.
Unlock the full potential of your medium business. Understand the six most common barriers to growth and tactics you can implement immediately to help overcome them.
Legislation to extend Single Touch Payroll to employers with 19 or less employees was passed by parliament today. The reforms come into effect from 1 July 2019 and will impact about 780,000 smaller employers.
Inland Revenue has kicked off a major payday filing advertising campaign to tell New Zealanders how the biggest changes to the tax system in a generation will affect almost every business and household.
All New Zealand employers should have received a letter from Inland Revenue reminding them that payday filing is coming and a ‘how to’ video on getting started with your shift to payday filing.
All New Zealand employers should expect to receive a letter from Inland Revenue confirming the 1 April 2019 payday filing start date and telling businesses “It’s time to shift to payday filing”.
Despite the looming Single Touch Payroll deadline, only 25% of accountants’ clients are ready. Hear thoughts and insights in this recorded interview with experts from the ATO and Chartered Accountants.