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Worrying about your tax payment for 28 August?

Tax pooling with TMNZ means you can pay provisional income tax at a time that suits you, at a much lower interest cost than what IRD charges for unpaid tax and without incurring late payment penalties.

 

How can it help?

Tax pooling with TMNZ means you can pay income tax at a much lower interest cost than what IRD charges for unpaid tax and without incurring late payment penalties.

You may find the service useful if you are unable to pay your provisional or terminal tax on time or if you have a better or more urgent use for those funds. That’s because tax pooling can be used to defer the tax payment to a date of your choosing or pay what you owe in instalments.

 

Who else uses tax pooling?

Tax pooling is used by New Zealand’s largest taxpayers, accounting firms and thousands of small- and medium-sized businesses. Our tax pooling partner TMNZ has a close and long-standing relationship with IRD, meaning you will be in the best of hands. TMNZ has helped more than 100,000 taxpayers with their provisional tax payments.

 

How is tax pooling helpful?

Simply it is a more flexible way to pay tax. With TMNZ you can select how or when you make provisional or terminal tax payments. Your options are detailed below:

 

Pay what you want, when you want

TMNZs Flexitax® was designed to let you pay what you want, when you want and the fees are calculated on the remainder after each payment. There are no set instalment amounts and you have up to 75 days past your terminal tax date to complete the arrangement with TMNZ. Paying this way can reduce IRD interest costs by up to 30 percent and eliminates late payment penalties.

 

Instalments

You can pay your provisional tax liability in easy-to-set-up instalments. A set amount booked at a frequency of your choosing. As with Flexitax® you can book instalments up to 75 days past your terminal tax date. This option will suit those with a consistent income and who would like their expenses to be spread accordingly.

 

Deferred payment

TMNZ offers a Tax Finance option. For an upfront fee you can choose a time in the future you wish to pay your tax liability. The upfront finance fee is much cheaper than most other traditional forms of finance. Tax finance suits those who have cashflow certainty and feel there is more to gain by being able to keep money in their business instead of paying income tax on IRD prescribed dates.

For all options with TMNZ, acceptance is guaranteed. As a TMNZ partner we are ready to help you get your provisional tax sorted.

Rodgers & Co

Christchurch

Office Address
6E Pope Street, Addington,
Christchurch 8011

Postal Address
PO Box 29 189, Riccarton,
Christchurch 8440

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Meet us for a coffee so we can discuss how we can help you!