myIR, payments and more
The Government has proposed changing when employers and payroll intermediaries file employer returns, ie, employer monthly schedules. The proposal is to file your returns every payday instead of monthly.
You’ll have time after your payday to file the returns. Payment due dates for PAYE and other deductions won’t change.
There are benefits to payday filing:
- You’ll be able to file returns when the information is available, you won’t need to wait until a later date.
- Having more up-to-date information means we can work out tax and entitlements more accurately.
If the proposals become law, payday filing will be voluntary from April 2018 and required from April 2019.
Contact your payroll software provider for more information on when they'll be able to offer payday filing.
Other proposals include:
- lowering the online return filing threshold for PAYE and ESCT from $100,000 to $50,000
- removing the payroll subsidy.