Capture of Contractor Tax Rate Certificate Expiry Dates (Payroll New Zealand Only)

Description

Previously, FastTrack360 supported the ability to capture the date when a New Zealand contractor’s withholding exemption expired if the contractor was subject to such an exemption. An enhancement has now been made so that if a contractor does not have a withholding exemption but does have a tailored tax rate, the expiry date of their tax rate certificate can be recorded.

To allow the expiry date of a contractor’s tailored tax rate to be recorded, the pre-existing Exemption Expiry Date field on the Payroll New Zealand > Payee > Payee Entry > Contractor Tax Details screen has been renamed Tax Rate Notification/Exemption Expiry Date (see Figure 1 below) and the field is enabled if the Schedular Payments field is ticked, irrespective of whether the Exempt From Withholding field is ticked.

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Figure 1: Payee Entry > Contractor Tax Details screen - Tax Rate Notification/Exemption Expiry Date field.

In line with this change, the Withholding Exemption Expiry Dates field on the Payroll New Zealand > Payee > Search > Payroll Details > Tax Details screen has been renamed Tax Rate Notification/Exemption Expiry Dates, as highlighted in Figure 2 below.

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Figure 2: Payee Search > Tax Rate Notification/Exemption Expiry Date field.

Benefit

This enhancement facilitates the ability to easily identify contractors who are subject to a tailored tax rate and their tailored tax rate certificates are due to expire so that follow up actions can be taken if necessary.

Configuration

No configuration required.