0.75 CPD Hours
If you would like to download a recording to this webinar please visit our store to register for the recorded version. The recording will be available the next business day after the live session. You will be able to find the recording via the Inland Revenue webinars page here
Significant changes are coming up at Inland Revenue next April, including:
- Collecting PAYE information on our new system
- Moving withholding taxes, Fringe Benefit Tax and gaming machine duty onto the new tax system (FBT, GMD, WT)
- The introduction of the new Accounting Income Method (AIM) option which lets small businesses choose to pay provisional tax ‘as they go’
- The Automatic Exchange of Information (AEOI)– this is an OECD initiative to reduce and deter offshore tax evasion – NZ is one of 100 countries who have signed up to this standard. It is being implemented internationally over the next two years.
This webinar will look at the changes we are making to myIR as a result of these changes. We’ll show you some indicative screen shots (design is still continuing) of some of the navigational changes we’re making and where you’ll go to manage your clients, to make transfers etc. and we’ll tell you about some new reports we’re looking to make available. We’ll also talk to you about the tax types that are moving over to the new myIR alongside GST.
The webinar will also look at proposed Payday reporting, which would involve employers reporting employee information every payday, instead of once or twice a month. This is still subject to legislation before Parliament. If passed, it would be voluntary from April 2018 and compulsory from April 2019.
Attendees will gain practical understanding of changes to myIR taking place next April, and what the new screens will likely look like. They will also get an overview of the changes themselves, both those which are confirmed and those subject to legislation.
Rachael Hopkinson & Nick Wilkins, Business Transformation Account Managers, Inland Revenue