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  • Writer's pictureCaleb Chung

"How Much Will Late Filing Really Cost You? Understanding Late Filing Penalties"

The IRD impose a late filing penalties if you file your GST or PAYE returns late. This is a cost you do not need to incur and TaxReminders can help with avoiding these unnecessary costs to yourself or business.

Late filing penalties for PAYE

The late filing penalty for employment information is $250.

If you do not file your PAYE online when you should, IRD may charge you a non-electronic filing penalty. The penalty is the greater of:

  • $250

  • $1 for each person employed at any time during the month

Note: most payroll software like Smartly and Xero Payroll has the capability to file PAYE at the time your process your payroll saving you the time and effort to file your PAYE manually, ensuring you do not miss your filing deadline.

Late filing penalties for goods and services tax (GST)

Late filing penalties for GST depends on your accounting basis at the time the return is due. There is a late filing penalty of $50 if you’re on the payments basis. A $250 penalty is given for late filing on hybrid or invoice basis.

These penalties are commonly due on the 28th day of the month after the return was due.

However, where the late filing penalty would normally be due on:

  • 28 December, it's due on 15 January.

  • 28 May, it's due on 7 June.

For more information please visit IRD website.

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