Managing your tax can be easier when more integrated with your other business processes, and from April this year myIR will have improved online features to make this help you achieve this.
Inland Revenue is delivering a transformation programme to make it simpler, more open and certain for New Zealanders to pay their taxes and receive their entitlements. This will also reduce the compliance costs to taxpayers and enable policy changes to be introduced more efficiently.
The first stage of the transformation involved moving GST into our new computer system in February 2017, which enabled a range of new self-service options. We introduced a number of changes as part of Stage 2 in April 2018 which involved moving other tax types and products to the new system:
Withholding taxes, Fringe Benefit Tax and Gaming Machine Duty
Automatic Exchange of Information – an OECD initiative to reduce and deter offshore tax evasion.
PAYE & Payday reporting – Payday filing becomes mandatory in April this year, so it’s time to get your business ready now by making sure your details are up to date in myIR.
Legislation is currently before parliament that, if passed, would make it possible to get automated refunds on any overpaid tax, as well as other important proposals.
This webcast will provide you with detailed information on the scope and timing of Inland Revenue’s next round of changes, which are highly relevant to you and your business. We’ll help you understand how they’ll impact you, and what you need to do to get ready.
About the Presenter: Rata Kamau, Business Transformation Account Manager for Small & Medium Business for Inland Revenue.
CPD 1.0 hour structured - Tax Planning
Cost – FREE to members, non-members $39
Register by clicking on the link below