IRD changes, Landlords and Payroll



IRD Changes

From 1 April 2019 all employers will be required to complete online payday filing through their IRD login.  For those employers that we prepare the payroll for, Michele Tan has this under control. If you use a payroll intermediary such as Xero Payroll or Smart Payroll, the software has been updated to allow for this.  The details of who you pay, and how much, should be filed each payday, but the PAYE will continue to be paid to IRD on the 20th of the following month.

Landlords

Are you up to date with all of the changes that affect you?  The extension of the brightline test to 5 years has been with us for a while now.  Check the date you purchased a rental property before you sell it, in case the profit is taxable.

By 1 July 2019, your properties should be insulated to a minimum of 120 millimetres, as well as having underfloor insulation where possible.

By 1 July 2021 rental properties must comply with the healthy homes standards.  This includes the insulation as well as heating, extraction fans and or rangehoods, a ground moisture barrier, adequate drainage and guttering, and block draughts.

From the start of this financial year there is legislation on the way to ring-fence rental losses.  They will no longer be able to be offset against your other income.

Please contact us if you have any questions regarding these changes.

Payroll

We can take the hassle out of paying your staff.

The law is quite clear around paying staff.  Records must be kept, your employees are entitled to the correct pay and IRD must be paid the correct amount of PAYE on time, every time.  With payday filing being mandatory from 1 April 2019, records must now be filed with IRD every payday. A lot of our clients are using Xero Payroll or Smart Payroll to make sure they are accurate.

Employsure also offer services to employers to ensure contracts and all employment matters are being dealt with correctly.

Please contact us if there is anything you are unsure of.


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