Latest news
[Tax Management NZ Newsletter – November 2010]
Payment Dates for Tax Purchases through to December 2010
November 2010 – 23 November [Early Bird payment – 9 November]
December 2010 – 13 December [No Early Bird Payment]
Corporate Registration
'Is Corporate Membership available to everyone or just large companies?' Corporate Registration is for anyone (Business/Individual/Trust) you think would benefit from having their provisional deposits more accessible ie, clients who may have UOMI to pay or have refunds on a regular basis. They pay their provisional tax into the Tax Pool (held at the IRD but in the Tax Pool a/c) and then once the return is completed they are able to sell excess for a higher interest return, buy shortfalls at reduced rates and/or smooth out uneven payments. For further information please phone Liz Taylor 09 5759105.
Earliest Tax for Sale – 7 July 2006
We currently have tax for sale from 7 July 2006 through to 28 October 2010 which can be purchased to cover underpayments or reassessments. If we are over 60 days past the Terminal Tax Date for the tax year in question then the funds can only be applied to a reassessment from audit or voluntary disclosure – if a previous assessment has been issued. Purchases and subsequent transfers need to be arranged within 55 days of the date of the reassessment. If you have questions on this please give us a call on 09 575 9105 or 0800 729 888 to discuss or email admin@tmnz.co.nz
Legislation Update
The Government is planning to introduce a new tax bill around the end of this month that we expect to improve some aspects of tax pool usage. We will provide some commentary when this is announced.