Tax pooling deadline for December balance dates

Tax pooling deadline for December balance dates

Tax pooling deadline for December balance dates Lee Stace

Act Now (300px)Please be aware that clients with December balance dates who have not settled their 2014 income tax liabilities must pay for tax purchases before 31 March. There is no discretion for late tax purchases to be transferred to Inland Revenue (IRD).

If any of your clients have a 15 January terminal tax date* and still have tax to buy, please CALL Tax Management NZ now on 0800 829 888 to arrange a last-minute purchase. This option is no longer available through our website.

IRD will not accept the use of purchased tax pool funds to settle your clients’ 2014 income tax liabilities if they are more than 75 days past their terminal tax date.

*This includes the 2014 financial year ending 31 December 2013, and those February balance date clients without an extension of time.