TMNZ Blog

News & resources for business flexibility, cashflow and capital expenditure
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Accounting income method: Pros and cons

The accounting income method (AIM) is certainly generating plenty of chatter among small business owners. Last month, we provided a detailed analysis on IRD’s new provisional tax payment method that was, er, aimed (forgive the pun) at accountants. Below we offer a simplified list of the pros and cons of AIM. These are the things…

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Last chance to pay 2017 income tax

The last chance to pay 2017 income tax through TMNZ  is 18 June. This is for clients with March-September balance dates who have a terminal tax date of 7 April . Due to tax pooling legislation, TMNZ can only assist up to 75 days past your terminal tax date. IRD will not accept the use of…

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Late payments from clients don’t have to impact cashflow

Peter and Heather Wavish, owners of Specialist Glass Cleaning and Protection Late payments from clients can affect cashflow and make it difficult to satisfy other obligations. It’s something Heather and Peter Wavish, owners of Specialist Glass Cleaning and Protection, know well. Hence they turn to Tax Management NZ (TMNZ) to mitigate the ramifications this has…

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765 450 Lee Stace

2017 income tax deadlines looming

Deadlines to pay 2017 income tax through TMNZ are fast approaching. We understand some clients might not be able to pay by then. However, there are options you may wish to consider if cashflow constraints will prevent you from settling your Flexitax or Tax Finance arrangements within the required timeframe. TMNZ deadlines – when must…

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AIM - the accounting income method
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What IRD isn’t saying about AIM

The accounting income method – AIM – will be available to businesses to calculate their provisional tax payments using approved accounting software from 1 April. The concept is simple: Those with turnover of less than $5 million will make provisional tax payments when they earn their income, based on accounting profit. Inland Revenue (IRD) has…

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The results – 2017 TMNZ charitable giving

Nearly 2500 Facebook users have helped Tax Management NZ (TMNZ) decide how we will donate $20,000 to charity this Christmas. Each year, we get into the festive spirit by giving money to charitable organisations to acknowledge the good work they do in the community. KidsCan, Mental Health Foundation, Forest & Bird, Tearfund and Rhema Media…

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Our 2017 giving project

In the lead-up to Christmas last year, TMNZ gave our clients the gift of giving by letting them choose how much we donated to charity. We have decided to show the same festive season spirit this year, albeit with a small change. We’re giving more and letting all Kiwis get amongst the voting. TMNZ plans…

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Filing-income-tax-return
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Filing a 2017 income tax return? Remember this

Basing your uplift calculation on last year (2017) or two years’ prior (2016) could result in a lower liability for your first two provisional tax dates.

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Webinar: IRD shortfall penalties framework

Tax Management NZ is partnering with Chapman Tripp to host a special webinar to cover the shortfall penalties framework.

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Watch the TMNZ Roadshow – understanding the new provisional tax environment

Earlier this year we held our national Roadshow for tax agents and business taxpayers. Following popular demand, we have recorded the latest North Shore event and placed for you belowwebinar that explains the new provisional tax rules in advance of the 28 August provisional tax due date. It’s important that every business understands the new…

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