TMNZ Blog

News & resources for business flexibility, cashflow and capital expenditure
Provisional tax calculator walkthrough 957 538 Lloyd Evaroa

Provisional tax calculator walkthrough

 The goal of our provisional tax calculator is to make working out taxpayer liabilities more efficient. Here is what we cover below and how you can skip forward for future reference. Why did make the calculator? 3:24 Working out liability 5:13 Working out the best time to file 11:10 First year trading example 13:04…

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10 real world cases of robotic process automation (RPA) in accounting 974 597 Daniel Pullen

10 real world cases of robotic process automation (RPA) in accounting

Robotic Process Automation (RPA) in Accounting The future of robotic process automation (RPA) is looking brighter and brighter, as software robots become more and more prevalent cross-industry. The Deloitte Global RPA Survey estimates not more than 5 years before near-universal RPA adoption. Accordingly, we’re taking a look today at the effects and application areas of…

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Image: Tax pooling transfers delay
Long delays expected for tax pooling transfers 1200 630 Lee Stace

Long delays expected for tax pooling transfers

IRD is taking longer to process tax pooling transfers for the 2018 tax year. They advise they are not processing these automatically as their system is not remitting interest and late payment penalties for taxpayers using tax pooling. As such, they are flagging these accounts so their tax pooling team can edit them manually. IRD…

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Image: 2018 income tax arrangement
2018 income tax arrangements: Options as final TMNZ deadline looms 1200 630 Lee Stace

2018 income tax arrangements: Options as final TMNZ deadline looms

The final payment date for taxpayers with a 7 April terminal tax date to pay their 2018 income tax arrangement via TMNZ is 13 June 2019. Legislation prevents TMNZ from helping beyond 75 days after a taxpayer’s terminal tax date. Unpaid Flexitax® or Tax Finance balances will incur IRD interest and late payment penalties. IRD…

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Cashflow survival: Dealing with terminal, provisional tax 1200 630 Lee Stace

Cashflow survival: Dealing with terminal, provisional tax

The months of April and May can really tax your cashflow. Let me explain. On 7 April, IRD expects you to pay terminal tax for the 2018 income year. Terminal tax means a taxpayer did not pay enough provisional tax for the previous year. As such, they need to square up the difference. To make…

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TMNZ and Xero team up to educate clients 600 338 Denise Pimentel

TMNZ and Xero team up to educate clients

 Xero and TMNZ partnered up earlier this month for Xero’s Education month. Kathleen Payne, TMNZ’s Strategic Partnerships Manager, ran the  webinar educating people on the benefits of tax pooling as well as a practical demonstration of applying TMNZ provisional tax arrangements within the Xero platform.

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TMNZ Taxlab integration is live 750 421 Lloyd Evaroa

TMNZ Taxlab integration is live

 We are happy to announce our integration with Taxlab is live. Taxlab is a cloud based tax software system designed specifically for New Zealand accountants, by New Zealand accountants. Used by NZX listed companies, big four and local accountants – Taxlab handles your return filing, provisional tax management, tax provision accounting and FBT compliance.…

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New provisional tax calculator 957 538 Lloyd Evaroa

New provisional tax calculator

Simplifying provisional tax is something we are always working on. Our new provisional tax calculator helps you by removing the time and strain of calculating your payments. Key developments This is a new tool to calculate provisional and terminal tax liabilities. As we detail below, you just need a few details to work out what…

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Dealing with IRD’s Christmas present 1200 630 Lee Stace

Dealing with IRD’s Christmas present

Where is IRD’s Christmas spirit? It’s a question many business owners often find themselves asking in December. The reason this thought occupies space in their minds is simple. On 15 January, IRD expects many to pay their second instalment of provisional tax for the 2018-19 income year. They also gleefully await a GST payment. Now…

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Future of Tax Symposium: Sir Michael Cullen
TMNZ promotes broader tax thinking via Tax Policy Charitable Trust 1200 630 Lee Stace

TMNZ promotes broader tax thinking via Tax Policy Charitable Trust

TMNZ was proud to support a Tax Policy Charitable Trust event which allowed those working in tax to present and discuss the Tax Working Group’s interim report. The Future of Tax Symposium recently took place in association with Auckland University and Victoria University of Wellington. TWG chairman Sir Michael Cullen was there to give the…

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