PAYE tagged posts

IRD to Overhaul PAYE

September 20, 2013 New Zealand Taxation

Numbers And FinanceThe PAYE system is due for modernization and an extensive overhaul.

In a speech given on September 19th the Minister of Revenue Todd McClay stated that the PAYE system would be the first element of the IRD’s current infrastructure to be upgraded as part of an ongoing initiative to modernize the tax authorities infrastructure.

He explained that the IRD’s upgrade will aim to streamline the process complying with the necessary PAYE requirements, and the improvement will make it easy for employers to share all necessary tax and wage information.

Explainign why the IRD chose to improve the PAYE system first, Todd McClay said that, in its current form, the PAYE system is “…is labor-intensive, often requiring double-handling and repeat contacts from IRD, thus making it a significant burden on emp...

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Year in Prison for Tauranga Tax Fraud

January 25, 2012 New Zealand Taxation

Calculating Taxes Up And DownA Tauranga man has been sentenced to a year in jail for neglecting his business’ tax obligations, and using employee tax payments to fund his own expenses and recreation.

Last week the Tauranga District Court sentenced an Adrian Ace, an agricultural contractor, to twelve months in prison for evading his PAYE and GST tax obligations. Adrian plead guilty to 28 charges of failing to properly account for PAYE for the employees at his company Pride Contracting Limited. He had also pleaded guilty to three charges of evading GST. Cumulatively, the company owed approximately NZD 55 000 to the Inland Revenue Department.

According to the IRD’s investigations manager Jonathan Matthews, Adrian Ace was first contacted by the IRD regarding his company in August 2005, when a repayment plan was establi...

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Government Calls for Comment on IRD Reforms

July 16, 2010 New Zealand Taxation

Thomas Jefferson on TaxationThe New Zealand Government is proposing a series of extensive transformation to the tax filing administration process, promising to deliver greater information ability, ease of filing, along with lowered incidence of processing error and calculation mistakes.

The Government and the Inland Revenue Department (IRD) are urging New Zealand taxpayers to give comment on planned changes to tax administration. On June 15th the Making Tax Easier proposal was introduced, along with a public consultation period lasting until July 23rd.

For individual taxpayers, the IRD has proposed creating a new digital portal, which would theoretically allow individuals to manage all their tax affairs. The idea is promised to be similar to internet banking in regards usability and security...

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Jail Time for Property Developer

April 12, 2010 New Zealand Taxation

Entertainment District construction at nightA Wellington based property developer has been sentenced to two years jail time for multiple tax evasion charges.

On April 12th the Wellington District Court sentenced Lance Christopher James to two years jail time for 19 separate tax evasion charges amounting to NZD 365 184. Lance James pleaded guilty to eight charges of failing to file a personal tax return or paying appropriate tax obligations, and 11 charges of failing to pass on employee PAYE deductions. Despite having repaid some of the tax obligation, Lance James still owes NZD 168 000, excluding penalties and interest charges. James has been refused bail pending appeal of his sentencing.

Patrick Goggin, IRD Investigations Assurance Manager, issued a warning to others considering any form of tax evasion, saying, “Others who are t...

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