HOW DO YOU ENSURE YOUR PAYE IS PAID ON TIME?

摘要

It has always been important for businesses to manage their incoming and outgoing payments on time. The task of regularly checking bank statements can be tedious, but for some businesses is a necessary task to ensure sufficient funds are available to comply with their many financial obligations, not the least of which is their PAYE payment obligations to Inland Revenue (IR). PAYE, KiwiSaver deductions and contributions, student loans and child support are essential deductions from employees' wages each and every payday. These employee deductions are held in the business's bank accounts, to be transferred to the Inland Revenue (IR) in time to meet the 20th of the following month deadline (or 5th and 20th in case of large employers). Payday filing requirements mean the PAYE reports must be filed with IR within two days of the payday.