Put your 28 August tax to work
Payment flexibility that works for you and your business
“With TMNZ, I don’t have to worry about provisional tax or tax payments. I can focus on other things, like growing our business.” – Rebecca Mitchell, Finance Manager, Leighs Construction, Christchurch.
Payment flexibility that works for you and your business
With TMNZ, I don’t have to worry about provisional tax or tax payments. I can focus on other things, like growing our business.” – Rebecca Mitchell, Group Finance Manager, Leighs Construction, Christchurch.
Trusted by accountants
“As an accountant, I get peace of mind as I know that TMNZ looks after all the tax payments and deadlines for my clients. They let business owners pay their provisional taxes on their own terms.”
– Sauvruth Sanjay, Senior Accountant, Orb360
Read the case study
Trusted by accountants
“As an accountant, I get peace of mind as I know that TMNZ looks after all the tax payments and deadlines for my clients. They let business owners pay their provisional taxes on their own terms.”
– Sauvruth Sanjay, Senior Accountant, Orb360
Read the case study
Inland Revenue approved
TMNZ is New Zealand’s original—and largest tax pooling provider, trusted by over 100,000 taxpayers. Approved by IRD and Guardian Trust-administered, your payments are safe and secure with us. We’ve been the go-to choice for kiwi businesses and their accountants since 2003.
Spend less on tax and more on your biz
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Get your free, no-obligation quote |
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Lock in your rate and put your tax to work |
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Pay when it suits your cashflow and focus on growing your biz |
Spend less on
tax and more on your biz
|
Get your free, no-obligation quote |
|
Lock in your rate and put your tax to work |
|
Pay when it suits your cashflow and focus on growing your biz |
Start saving on tax now
Complete the form to receive a call from one of our tax experts within 1 business day to get a free no-obligation quote tailored to your business.
"*" indicates required fields
Join 25,000 Kiwi business who choose TMNZ to take control of their provisional tax payments.
Start saving on tax now
Complete the form to receive a call from one of our tax experts within 1 business day to get a free no-obligation quote tailored to your business.
"*" indicates required fields
Join 25,000 Kiwi business who choose TMNZ to take control of their provisional tax payments.
Join 25,000 Kiwi business who choose TMNZ to take control of their provisional tax payments.
Start saving on tax now
Complete the form to receive a call from one of our tax experts within 1 business day to get a free no-obligation quote tailored to your business.
"*" indicates required fields
Are you missing out?
“The majority of our business is actually small to medium enterprise… anybody with income fluctuations throughout the year, TMNZ has the perfect product. You get more time to pay – another 75 days after your terminal tax date – and purchasing tax through us is going to be cheaper than paying IRD penalties and interest.”
– Joe Kettlewell, Customer Growth Manager TMNZ
Are you missing out?
“The majority of our business is actually small to medium enterprise… anybody with income fluctuations throughout the year, TMNZ has the perfect product. You get more time to pay – another 75 days after your terminal tax date – and purchasing tax through us is going to be cheaper than paying IRD penalties and interest.”
– Joe Kettlewell, Customer Growth Manager, TMNZ.
Be quick!
Does your financial year-end 31 March? Then your first provisional payment is due 28 August. TMNZ can delay it by up to 22 months– no IRD penalties or interest
FAQs
A tax pooling company helps clients manage their provisional tax payments effectively. All IRD-approved intermediaries operate under legislation detailed in the Income Tax Act 2007 and Tax Administration Act 1994.
Tax Management New Zealand (TMNZ) was the first to introduce tax pooling in New Zealand — the tax pooling originators. This innovation was not only a first in New Zealand but also globally, revolutionising how taxpayers meet their provisional tax obligations.
A brief timeline:
Penalties before 1987
Before 1987, taxpayers and businesses in New Zealand did not face penalties or accrue interest for late or missed provisional tax payments.
1987 – Introducing the interest rate regime
The introduction of penalties and interest costs in 1987 by Inland Revenue (IR) aimed to encourage compliance and timely tax payments. Consequently, taxpayers were charged high-interest rates on underpayments or late payments but only received low-interest rates on overpayments.
2003 – A brand new system
Tax pooling is introduced as a framework by Inland Revenue in 2003. Under the new system, taxpayers can deposit surplus tax payments into an account, known as a tax pool, administered by IRD-approved tax pooling intermediaries. The intermediary acts as a facilitator, matching the tax shortfall of one taxpayer with the overpaid tax of another. Tax payments made in this way are approved by IRD and treated as a payment made on the date it was paid into the tax pool.
As a tax pooling intermediary, we collaborate with accountants and businesses to make tax payments easy. Tax pooling with TMNZ helps you meet your income tax obligations and avoid late payment penalties and interest charges. The best part? You receive more benefits and greater flexibility than you would paying Inland Revenue (IR) directly.
By using tax pooling, you can transfer tax payments from the pool if you aren’t able to pay your provisional tax on time. If you were to underpay provisional tax, IR would charge you late payment penalties (LPP) and use of money interest (UOMI).
Tax pooling enables taxpayers to consolidate their provisional tax payments, offsetting underpayments with overpayments within the same pool. Because we’re able to backpay your provisional tax payments in this way, we’re also able to avoid the IR penalties and fees incurred as it is no longer considered a ‘late payment’.