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[2009 and earlier Provisional Tax and ‘Other’ Tax Purchases/Transfers]
Where your client has a Re-Assessment due to a Voluntary Disclosure or Audit your client can make a Tax Purchase for the funds and save on the UOMI. If the tax is pre 7 March 2008 (not available online) please email or phone us (0800 729 888 or 09 575 9105) to ensure the funds are available and we can send through a quote.
The legislation states that the funds need to be transferred to the IRD within 60 days of the Notice of Re-Assessment (NOR). RP 17B Legislation details - read more. The funds can be purchased before the NOR date and the transfer will be processed. If the NOR is still outstanding the IRD will not allow this transfer and we will hold in the Tax Pool pending the Notice being issued by the IRD. Once we have been notified us that the NOR has been issued we will action the transfer again and the transfer should then go through. NB: It is imperative that you let us know as soon as the Notice has been issued so we can transfer the funds in a timely manner. The IRD are being particularly aggressive regarding the timing of transfers. Please contact TMNZ to discuss.
Clients with 28 June, 28 July or 28 August 2010 provisional payment To ease the pressure on cashflow they can use Tax FINANCE to defer the payment until they are ready and able – up to 12 months for P1. One up-front interest payment will lock in the funds - get a quote or order online now.
Short Paid 2010 Income Tax? Many of your clients will now have finished their 2010 year. We have tax available to purchase at all dates so if your clients have a shortfall, get in early and secure a tax purchase. Use our Tax Purchase Calculator to see the savings you can make for your client.