250 seminars nation-wide preview latest myIR upgrade

More than 250 seminars nation-wide preview latest myIR upgrade

POSTED 12 FEBRUARY 2018

Tax agents and business people around the country are snapping up opportunities to learn about improvements to Inland Revenue’s online services.

From mid-April, a major upgrade to myIR will be released enabling more advanced services under a new ‘My Business’ tab.

GST will be in the new ‘My Business’ section alongside a payroll returns area where employer monthly schedules can be filed and amended. There will also be the ability to file fringe benefit tax and gaming machine duty returns online.

Inland Revenue Community Compliance Manager Corey Sinclair says the improvements are designed to make it easier for business people to meet their tax obligations.

“What previously might have involved arduous filling out of paper forms will now be much quicker and all online,” Mr Sinclair says.

“We are confident that small and medium businesses will find these changes to be a huge improvement.

“Judging by the high number of registrations to our seminars and webinars about the improvements, businesses clearly want to be on the ball when the changes go live on April 17.”

The ‘My Business’ section of myIR is being heavily user tested by customers ahead of the launch. In addition, a group of tax agents has been seconded into Inland Revenue for the first time to provide expert oversight.

“We’ve worked really hard to improve the user experience and these seminars are an opportunity to get a sneak preview so there are no surprises on launch day,” Mr Sinclair says.

Small businesses are also getting the opportunity at these sessions to learn more about the AIM (Accounting Income Method) option for paying provisional tax.

AIM will be available from April to small businesses with annual turnover of under $5 million and will see tax payments aligned with actual cash flows.

If a company’s income drops during the year, it will be able to get an immediate refund of overpaid provisional tax, rather than having to wait until the end of the year.

Customers can find out more about the changes and sign up for a seminar at www.ird.govt.nz/mybusiness

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