New Zealand Payroll Services

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New Zealand Payroll

At Bradford Jacobs, our Employer of Records (EOR) platforms provide reliable solutions for companies wishing to establish their presence in the economy of New Zealand. Compliance with the local payroll laws and regulations are vital to a business’ smooth and hassle-free transition, which is where we come in. We offer dedicated New Zealand Payroll solutions that can be personalized to your requirements.

At Bradford Jacobs, we make business expansion easy. We navigate the administration of the New Zealand payroll system for you – and as part of our service, we make the returns and associated payments for income tax and social security contributions directly from our payroll system to the local tax authorities. We do the work, so you do not have to.

When expanding into a new country, you may encounter some challenges regarding payroll, but allow us to take the reins and answer any of your questions and concerns with our trusty guide on payroll for New Zealand.

What New Zealand Payroll Options are available for Companies?

Businesses in New Zealand have access to a variety of payroll options, depending on their needs:

Remote payroll: Businesses can operate under a single payroll system for all employees, by adding employees in New Zealand to your parent company’s payroll.  However, these employees will have to operate under different regulations, which can cause some confusion.

Internal payroll: You may also operate payroll out of your subsidiary, especially if you are committed to growing your company’s presence in New Zealand. However, this does require hiring a dedicated HR staff that understands the local employment and compliance laws.

New Zealand payroll processing company: If you are keen on outsourcing, working with a New Zealand payroll processing company will help in your payroll process – but not when it comes to compliance.

New Zealand payroll outsourcing: An option that solves both payroll and compliance needs – working with a company like Bradford Jacobs. We can handle both your payroll and compliance for all your employees in New Zealand. We take the stress of payroll administration off your shoulders so you can focus on what you do best.

New Zealand Payroll Services

Payroll regulations in New Zealand change frequently, and businesses can risk sanctions and financial penalties if they do not comply with these changes. Our payroll service requires staying on top of these shifting demands – which includes administering returns and associated payments for wage tax and social security contributions directly from our payroll system to the tax authorities. Our role consists of:

  • Registering with the Inland Revenue Department
  • Registering employees with Kiwi Saver for social security contributions
  • Creating employment contracts for your new employees in English and Maori
  • Applying for employees’ special expatriation status (if applicable)
  • Calculating employees’ monthly salary and sending them their pay slips
  • Researching for any available tax incentives
  • Submitting employees’ or employer’s wage tax returns and national insurance forms
  • Corresponding with the applicable national authorities regarding payroll changes and payments
  • Creating and submitting your company’s annual accounts, administration, and year-end statements
  • Creating payment schedules for wage tax, national insurances, and net wages
  • Ensuring proficient personal income tax returns for you and your employees

What is required to set up New Zealand Payroll?

The requirements for setting up New Zealand payroll will depend on how you establish your presence in the country. If you would like to set up as a subsidiary, you will need to have the subsidiary established first – but this can take some time, depending on the entity type you choose.

To start processing payroll in New Zealand, you will need:

  • a local IRD Number
  • Registration with the Kiwi Saver
  • Registration with the Goods and Services Tax Network
  • A local bank account (optional)
  • An accountant
  • A lawyer
  • A legal representative

Registering with the authorities and the bank will take at least 5 working days to a few weeks, depending on the documentation required.