In April 2018 the IRD is introducing a number of changes to their myIR secure online services, which they believe will provide significant improvements to tax services for businesses. There are several changes being introduced as part of the major upgrade.
The “My GST” section of myIR has been redesigned to be called “My Business”, and it will include the facilities to:
- File, pay and amend GST.
- Manage payroll returns. A Payroll Returns account replaces the ir-File service where employer monthly schedules (IR348) are amended and filed, and employer deductions (IR345) are filed.
- File, pay and amend fringe benefit tax (FBT).
- File, pay and amend gaming machine duty (GMD).
- Attach files and submit them to IRD.
- Register for and cease account types.
From April 2018 the accounting income method (AIM) will be available to small businesses for calculating provisional tax. We explained AIM and the benefits it can provide to businesses in our recent article.
The IRD is making it as easy as possible for business owners to get up to speed with the changes, providing informational videos on their website, free webinars and over 250 seminars held throughout New Zealand. For more details on the changes please visit the IRD website.