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[Tax Pooling Update]
DECEMBER YEAR END TRANSFERS
The IRD insists that all transfers must be made within 60 days of the relevant Terminal Date. For December year end this is 15 January and as such you only have up to second week of March 2010 to have these completed.
Smooth the 2009 Tax Year Position
We have reached the end of the 2009 financial year for most tax payers and while final tax positions may not yet be known, you probably have a feeling for whether you are over or underpaid for the year.
The good news is regardless of whether you are over or under, or your payments are just in the wrong place we can help improve the refund or reduce the cost as the case may be.
Overpaid for 2009?
We can sell your overpayments of tax now and get you up to 2.5% more credit interest than the IRD rate. We have steady demand right through the year and now is a good time to sell. We have a sales run at the end of every month. If you need the funds faster than that we can always arrange a refund with IRD interest, typically within 2-3 working days.
Underpaid for 2009?
We have tax available for purchase at all dates for the 2009 year. Don’t forget that as a TMNZ Tax Pool member you are guaranteed the right to purchase tax equal to 10% of your 2009 deposits with TMNZ.
Payments at the wrong dates for 2009?
If you have paid the right amount overall but it is not evenly spread we can help. The size of our Tax Pool operation means we are almost certain to have other members with an opposite profile to yourself. We then bring you together and swap the over and under payments between you for maximum advantage. If you are in this situation, please give us an indication of your likely requirements so we can start working on a solution for you (these swaps often take time to arrange as multiple parties are involved).