Overview

Year End, for purposes of the Datacom Reports, is based on the New Zealand IRD tax year end dates. The year spans from 1 April to 31 March. Any reports showing a YTD value will be reported according to this date range.

The Process:

End-of-Year processing for will occur automatically during the first pay-run that has a payday that falls in April. The direct credit release date determines when the payday occurs. The actual period-end date of a pay-run does not influence this decision.

When a pay-run is deemed to be the first for the new financial year, all End-of-Year processing for that company will be actioned as at the previous pay period.
There will be a charge on your April invoice for End-of-Year processing. This charge is based on the number of employees paid in the financial year and covers reports, certificates and the additional processes required to ready the file for the new financial year.

A standard report, Year End Tax Summary is created as part of the EOY processing.  Year End Tax Certificates  are created but are not usually printed or issued to employees. There is no requirement by law to provide the Tax Certificates and most people rely on the information that has been supplied to has a direct credit date in April. If you have access to the payroll application, you would also be able to run this report for all employees or an individual employee if required as this is a standard report.

Note:

It is Important to be aware of all legislative changes that take effect from 1 April. Tax Changes are automatically updated in Datacom's payroll software. Communication about tax year changes are also usually communicated by Datacom's consultants by end of March. Changes that affect employee's contract eg pay rates are not automatically carried out by Datacom. If any employees are affected by the minimum wage increase, these changes must be submitted to Datacom consultant alone with your normal employee modifications.