TMNZ Blog

News & resources for business flexibility, cashflow and capital expenditure

Image: Tax Policy Scholarship Competition
Tax Policy Scholarship Competition finalists 1200 801 Lee Stace

Tax Policy Scholarship Competition finalists

A negative income tax coupled with a flat tax rate for individuals and the creation of a trusted taxpayer regime. These are among the ideas judges will hear as part of the Tax Policy Scholarship Competition. A tax on biogenic methane emissions and freshwater as well as reforming the R&D tax credit regime are the…

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Photo: Prodigy Hair Industry's Krystle Walker
Prodigy Hair Industry cuts tax stress 1920 1282 Lee Stace

Prodigy Hair Industry cuts tax stress

Krystle Walker from Prodigy Hair Industry loves cutting and styling hair. She does not love provisional tax. That’s why she utilises the service of TMNZ. They cut away the stress this causes her so she can focus on running and improving her salon.   But more on that in the coming paragraphs. First, some background…

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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 18 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

  tmnz tax calculator introduction from Tax Management NZ on Vimeo. 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. Update: See below our live calculator walkthrough Key developments This is a new tool to calculate provisional…

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