Is the service TMNZ provides legal?
Yes, we are a registered tax pooling intermediary with IRD and operate under legislation set out in the Income Tax Act 2007 and Tax Administration Act 1994.
Are my payments secure?
Yes, all payments made to us are made into bank accounts administered by an independent trustee, Guardian Trust. With more than 125 years’ experience in New Zealand, Guardian Trust oversees our tax pool account at IRD in which payments are held. They authorise all payments and tax refunds, as well as transfers to taxpayer accounts. At no stage do we have any contact with, or access to, your payments.
What tax payments can TMNZ assist with?
We can help manage provisional or terminal tax due date payments for the current tax year or one just completed. We can also help with other types of tax such as GST and PAYE if you have received a notice of reassessment from IRD due to a voluntary disclosure or IRD audit.
How much more time do I receive if I pay tax through TMNZ?
We give you an extra 75 days past your terminal tax date to pay provisional or terminal tax payments for the current year or one just completed. If you have received a notice of reassessment from IRD, you have an extra 60 days from the date this correspondence was issued to pay the additional tax you owe.
This seems too good to be true. Why does IRD allow the use of tax pooling?
IRD is mainly concerned with receiving the correct amount of tax from taxpayers. It supports the payment options we offer because they allow taxpayers to reduce their compliance costs while ensuring they pay the tax they owe throughout the year in a timely manner.
Will the IRD know if I have set up a payment arrangement with TMNZ?
You will have to tell IRD you are paying what you owe through TMNZ and they will note it in their records to ensure no proactive recovery action is taken by IRD’s debt collection team in relation to the tax amount owed.
Does TMNZ have access to my IRD account and the tax that I owe?
We do not have access to, or visibility of, your IRD account as we are a tax payment intermediary. If you require information pertaining to your IRD account or the amount of tax you owe, you will need to contact IRD or your accountant.
How do I sign up with TMNZ?
Signing up with us is fast and easy. Simply click on the link here and follow the instructions. Once you have confirmed your registration with TMNZ, you then add the taxpayer(s) whose tax affairs you manage.