The Government has extended online services to build employer registration into the process of incorporating a new company.
Up to now, companies have been able to register for income tax and GST and obtain their IRD/GST number when incorporating online on the Companies Office website. But the process has then required a visit to Inland Revenue’s website to register for PAYE and FBT as an employer, entering all over again information which the company has only just provided to the Companies Office. The new employer registration service means new companies only have to enter this information once.
This is part of the Better Public Services initiative to cut paperwork and its associated costs, following on from the introduction of the New Zealand Business Number (NZBN). If the news about the NZBN has passed you by, it's an initiative to assign a single identifying number for all businesses in New Zealand. In December 2013 all 1.1 million companies in New Zealand were allocated an NZBN. However, around half of New Zealand businesses are sole traders, partnerships and trusts.
Whatever kind of entity your business is, you don't have to do anything differently. At the moment, the NZBN will not replace any ACC, GST or IRD numbers that you use to identify your business to various government agencies. However, the plan is to allow the NZBN to be the main identifier for businesses eventually and that you will be able to use your NZBN with customers, suppliers and government agencies. The Government hopes the NZBN will mean businesses spend less time and effort on filling out forms and more time and effort on business. They've committed to reducing the cost of doing business with government by 25 per cent by 2017.