Insights

Tax tip: Coming up to your third provisional tax date and had a better financial year than expected?

Tax tip: Coming up to your third provisional tax date and had a better financial year than expected? Lee Stace

If you have had a better-than-expected year and are considering paying extra income tax at your final provisional tax date (P3) to compensate for earlier underpayments, Tax Management NZ (TMNZ) has an alternative method that will further reduce your exposure to IRD interest. We recommend you pay your estimated liability at P3 and purchase the…

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Connect-ing business owners with tax pooling

Connect-ing business owners with tax pooling Lee Stace

A number of business owners attended the BNZ Newmarket Connect event to find out more about tax pooling. Photo: BNZ Tax Management NZ (TMNZ) in conjunction with Crowe Horwath recently spoke to small business owners about how tax pooling can be used to manage income tax obligations at 13 BNZ branches across New Zealand. The…

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Take the sting out of underpaid 2015 income tax

Take the sting out of underpaid 2015 income tax Lee Stace

Find out how to eliminate IRD late payment penalties and reduce interest costs if you have not paid enough income tax. There is a method approved by Inland Revenue (IRD) that can ease the financial pressure on cashflow if the taxman has charged you late payment penalties and interest on underpaid 2015 income tax. It’s…

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Defer payment of 28 March provisional tax

Defer payment of 28 March provisional tax Lee Stace

Tax Management NZ (TMNZ) has a product that those who might struggle to pay provisional tax due on 28 March might find helpful. Tax FINANCE allows you to defer this payment to a time that suits you, without having to worry about IRD late payment penalties and interest. The benefits of Tax FINANCE include: Cheaper…

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Important tax pooling deadlines to settle 2015 income tax liabilities

Important tax pooling deadlines to settle 2015 income tax liabilities Lee Stace

Please refer to the table below for key tax pooling deadlines of which you need to be aware if your clients need to use tax pooling to settle underpaid 2015 income tax liabilities. IRD will not accept the use of purchased tax pool funds to settle 2015 income tax liabilities if your clients are more…

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Tax professionals to have lunch with Joel Slemrod

Tax professionals to have lunch with Joel Slemrod Lee Stace

A group of leading New Zealand tax professional will debate and discuss tax policy with respected American professor of economics and tax expert Joel Slemrod in Auckland next month. It will happen at the Northern Club on 23 February as part of a luncheon organised by the Tax Policy Scholarship Committee (TPSC). Mr Slemrod (pictured)…

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The good, bad and ugly of the accounting profession revealed

The good, bad and ugly of the accounting profession revealed Lee Stace

The Good, the Bad and the Ugly (GBU) report by CCH Business Fitness is an investigation into the financial performance and management trends of New Zealand accounting businesses. Tax Management NZ is proud to be a partner in this annual project as it uncovers key insights and strategic recommendations for the accounting industry. Below is…

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Presentation slides – Christchurch roadshow

Presentation slides – Christchurch roadshow Lee Stace

Tax Management NZ (TMNZ) last week held the last of its roadshows for the year in Christchurch. Around 80 accountants and corporate clients were in attendance at Tait Communications, where they were treated to an informative update on the economy by Westpac Senior Economist Michael Gordon as well as Inland Revenue’s compliance focus and business…

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TMNZ Christchurch roadshow

TMNZ Christchurch roadshow Lee Stace

Tax Management NZ (TMNZ) is inviting clients in Christchurch to attend on 17 November an informative update on the economy as well as Inland Revenue’s compliance focus and business transformation. Westpac Senior Economist Michael Gordon and Inland Revenue Investigations Manager Gary Welsh will share their insights on these respective topics. TMNZ Chief Executive Chris Cunniffe…

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Flexitax – TMNZ’s most flexible way to pay income tax

Flexitax – TMNZ’s most flexible way to pay income tax Lee Stace

Businesses wanting to ease the burden income tax payments have on cashflow and have greater flexibility around their payments now have another way to pay. They can pay their provisional and terminal tax through Tax Management NZ (TMNZ) via monthly instalments, where they pay what they can, when they can. Tax pooling intermediaries, which are…

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