Redefine IR8A Compliance with Payroll Software and AIS

Redefine IR8A Compliance with Payroll Software and AIS

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Filing your employees’ income information each year can feel like a tedious task. Between printing forms, collecting signatures, and ensuring accurate reporting, the submission process eats up valuable time and resources. What if there was a simpler option that streamlined your reporting while saving you effort?

The Auto-Inclusion Scheme (AIS) offers employers an electronic alternative for income reporting that cuts out manual data entry and form distribution.

By integrating your payroll records with AIS, you can submit information directly to the Inland Revenue Authority of Singapore (IRAS) with just a few clicks. This means that you don’t have to print and distribute hardcopy IR8A forms to your employees, and your employees don’t have to declare their income information in their tax returns, as it will be automatically included by IRAS.

Auto-Inclusion Scheme (AIS) benefits

  • It saves you time and resources, as you don’t have to prepare and issue hardcopy IR8A forms.
  • It reduces errors and omissions, as the income information is directly extracted from your payroll system.
  • It enhances your employees’ experience, as they don’t have to fill in their income information manually in their tax returns.
  • It supports green initiatives, as it reduces paper usage and wastage.

Who can participate in AIS?

If you have 6 or more employees, or if you have received a notice from IRAS to file electronically under AIS, you are required to participate in AIS. You can register for AIS online via the IRAS myTax portal.

What information do you need to submit under AIS?

You need to submit the following forms under AIS:

  1. Form IR8A: This form reports the employment income and benefits-in-kind received by your employees for the preceding year of assessment. You need to submit this form for all your employees, including full-time, part-time, non-resident, overseas-based, directors, board members, pensioners, and those who left your organisation during the year.
  2. Appendix 8A: This form reports the benefits-in-kind received by your employees, such as housing, car, stock options, etc.
  3. Appendix 8B: This form reports the gains from employee stock option plans (ESOP) or employee share ownership plans (ESOW) exercised by your employees.
  4. Form IR8S: This form reports the excess CPF contributions made by you or your employees, and the refund claimed from IRAS.

How can payroll software help?

HRMLabs IRAS Auto Submission

One of the easiest ways to submit your employees’ income information under AIS is to use a payroll software that is integrated with IRAS. A good payroll software will allow you to:

  • Generate the IR8A and related forms automatically from your payroll data.
  • Validate the data for accuracy and completeness before submission.
  • Submit the data securely and directly to IRAS via the internet.
  • Track the status of your submission and receive confirmation from IRAS.
  • Download the submitted data for your records and reference.

One such payroll software that can help you with AIS is HRMLabs. HRMLabs is a cloud-based payroll software that simplifies payroll processing and compliance for SMEs in Singapore. With HRMLabs, you can:

  • Run payroll in minutes with automated calculations and statutory deductions.
  • Manage employee leave, claims, attendance, timesheets, and rostering in one platform.
  • Generate payslips, CPF statements, bank files, and other reports with ease.
  • Submit IR8A and related forms directly to IRAS with a few clicks.
  • Enjoy seamless integration with accounting software, banks, CPF board, and other partners.

HRMLabs is also compliant with the latest tax regulations and updates from IRAS. You can rest assured that your payroll data is always accurate and up-to-date. HRMLabs is a complete HR solution that helps you manage your workforce efficiently and effectively. With HRMLabs, you can focus on growing your business while we take care of your payroll and HR needs.

If you are looking for a payroll software that can help you simplify your IR8A submission under AIS, why not give HRMLabs a try?

Contact HRMLabs now!

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