2006 media releases
PAYE Subsidy available for employers
29 September 2006
From 1 October, many employers will be able to claim a subsidy designed to help simplify their tax obligations and cut compliance costs.
Most employers who use a payroll intermediary to help prepare their wage records will be eligible for a subsidy of $2 per pay day, per employee (up to a maximum of five employees). Businesses that file monthly and have total PAYE deductions of less than $100,000 per year will be eligible for the subsidy, which is paid directly to the payroll intermediary.
A payroll intermediary can be a payroll service provider, accountant or other tax professional who provides payroll services and is registered as an intermediary with Inland Revenue.
"The cost of using a payroll agent will vary, of course, but the subsidy should go a long way towards meeting the cost for small employers," says Ross Hughson, Inland Revenue's Acting Deputy Commissioner Business Development & Systems.
Up to 71% of New Zealand employers may qualify to receive the subsidy for all their employees and a further 22% could receive the subsidy for some of their employees.
Employers should check with their payroll intermediaries to see if they are registered with Inland Revenue to receive the subsidy. Payroll service providers can be found in the yellow pages or at www.yellowpages.co.nz [search for payroll services].
For further information contact:
Sharon Cuzens
04 890 1930
Other media releases this year
- It's IR 3 time - for many of us
- Owner of chain of rest homes get 21-month prison term for million dollar tax evasion
- Family assistance payments to be made early
- Inland Revenue welcomes tough sentence on tax fraudster
- False identity charges lead to jail term for Christchurch woman
- PAYE evasion leads to jail term
- Family assistance payments to be made early
- Inland Revenue welcomes Govt3 award wins
- One month left to seek penalty cancellations
- Christchurch painter jailed on tax charges
- Inland Revenue can offer help to weather-affected businesses
- Prison for Tauranga contractor on tax fraud charges
- Inland Revenue confirms stand on depreciation
- Family Assistance payments to be made early
- Tax discount for new businesses
- Tauranga contractor jailed for tax offences
- Inland Revenue revises rules on shortfall penalty application
- Inland Revenue Flood Support
- Family Assistance to be paid early
- Inland Revenue website wins People's Choice award
- Tax due date coming up on 7 February
- Family assistance payments to be made early
Corporate Communications
Inland Revenue
For all media enquiries phone: 04 890 1698
For general communications enquiries
Phone: (04) 890 1936
Email: corpcomm@ird.govt.nz
Fax: (04) 498 5809
P O Box 2198
12-22 Hawkestone Street
Wellington
New Zealand
Date published: 29 Sep 2006
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