We have mentioned this in the past, but don’t forget payday filing for employers is compulsory from 1 April 2019.
Please contact us if you need any help with complying with the new process and rules or take a look at our article on the subject here.
No more cheques for IRD
Do you send post-dated cheques for tax payments? It’s time to go digital!
From now on you’ll need to use online banking to make future-dated payments as from the 1st of February 2019, IRD will no longer accept post-dated cheques. Plus, if you’re one to put your tax payments in the Inland Revenue’s dropboxes, you’ll now have to head to an IRD office reception area during office hours to do so.
Writing off bad debt? Get your ducks in a row
If you’re expecting a tax break from writing off bad debt, you may also expect to hear from the IRD asking you to prove the debt is, in fact, bad. A new ruling means the IRD could request evidence of any steps you took to recover the debt (before writing it off) and proof there is no reasonable likelihood the debt will be paid. So, get your paperwork in order!