Deposit into our tax pool to reduce liability risk while earning more interest on overpaid tax


Depositing into TMNZ’s tax pool account means you have flexibility over all your provisional and terminal tax payments. It’s about working capital management and deciding how to make your funds work for you.

Get full control and earn more on surplus tax

By depositing into the TMNZ tax pool, you get more choice over what to do with your funds. You can earn interest on overpayments (more than you would through IRD), move the funds forward to the next financial year or even draw on it as a line of credit.

Reduce your risk and exposure to liability

By using a tax payment intermediary, you reduce your exposure to IRD late payment penalties and can save up to 30% on IRD interest. This includes for missed, underpaid or future provisional tax payments.

Easier access to your tax funds

Gettings refunds from TMNZ is much simpler compared to IRD. Deposits made into the TMNZ tax pool can be refunded in 3-5 working days. No paperwork and much less hassle.

We work with you to improve outcomes

TMNZ has a dedicated client team, which means expert advice is just a phone call or email away. You can even manage your account online through the TMNZ dashboard and we’ll set reminders to let you know when your next provisional tax deposit is due.

Three ways to do tax on your terms

1

Want to maximise overpayments and earn more interest?

Some taxpayers overpay tax during earlier provisional tax dates to reduce their risk. Tax sale provides you with an opportunity to generate additional earnings on overpaid tax.
  • TMNZ offers a significantly higher rate on overpaid tax compared to what you would otherwise receive from IRD.
  • TMNZ works with you throughout this process to make it as straightforward as possible.

2

Want to use your deposits as a line of credit or get refunds back faster?

If you need to access your funds at any time, we make it easy so you get the money when you need it without any hassle or IRD paperwork.
  • Tax Drawdown allows you to access deposits in the pool as collateral to drawdown short term funds at very attractive rates.
  • You can request your funds back from the pool at any time (no more IRD paperwork!) and the money will be in your account within 3-5 business days.

3

Want to smooth out current year income tax liabilities?

If you’ve overpaid at one provisional tax date, but then underpaid at another, Tax Swap lets you swap surplus tax to even out your payment profile.
  • For any under payments, you can swap tax to reduce IRD interest costs.
  • Earn extra interest on overpayments swapped forward from earlier provisional tax dates.
Sharron Slater, Finance Manager, Traffitech

How Sharron Slater at Traffitech is doing tax on her terms

Simplifying tax payments

With TMNZ, Sharron can offset overpayments and underpayments rather than paying IRD directly. All company taxes get settled in one payment, so she never underpays or has to move tax around. Plus there’s no need to fill out forms or waste time on the phone to IRD.

Reducing overpayments

Sharron used to overpay Traffitech’s provisional tax so there was less risk of getting stung with IRD’s use of money interest. With TMNZ, Sharron ensures Traffitech pays the right amount of tax at the right time. And if she wants a refund, that’s easy too.

How to start tax pooling with TMNZ

What our customers say about TMNZ

More customer stories

  • When you deposit funds into a tax pool with TMNZ, you can minimise risk while increasing your earnings as much as possible. Maximising tax deposits allows you to earn interest on overpayment of tax.

    When you overpay tax into our tax pool, you have the potential to earn a significantly higher rate of interest on overpayment of funds than you would receive from IRD. You can then easily withdraw funds, move them over to the next financial year, or even draw on the funds as a line of credit.

  • Overpaid tax is money tied up at IRD that could’ve otherwise been used more productively in the business. TMNZ provides working capital management solutions to help you get more flexibility on what you do with your tax deposits.

    By depositing into TMNZ’s tax pool, you get more control around how and where it gets allocated. This is especially useful if you manage the tax affairs of a complex group structure. You’ll also get quicker access to overpaid tax compared to needing to arrange a refund from IRD.

  • Whenever you make a tax deposit into TMNZ’s tax pool, this is date-stamped as at the the date of deposit and is held in the pool. For instance, a taxpayer makes a deposit into the tax pool on 28 August 2019. Their deposit will carry this date.

    We only transfer that deposit from the pool after the taxpayer (or a person acting on their behalf such an accountant or tax agent) ask us to.

  • Tax Finance is a popular solution for many of our large corporate clients. This allows you to pay the full provisional tax payment on one future date that suits your business. With a fixed upfront fee and a payment date to suit you, Tax Finance offers certainty over costs and payment times. This certainty assists your business to maintain efficient working capital management.

    By working with TMNZ, you can enjoy increased flexibility without worrying about the penalties. Tax Finance is a way to improve your working capital management so that your business can continue to run smoothly, especially when cashflow is an issue at tax time.

  • Working capital management is important, as working capital is the lifeblood of any business. Working capital is comprised of a company’s cashflow, assets and liabilities. By closely monitoring and managing working capital, businesses can maintain smooth operations while maximising profitability. TMNZ offers effective working capital management techniques to optimise your business’s efficiency.

  • With TMNZ, you make provisional tax work for your business. Depositing into the TMNZ tax pool means you can swap payments between dates, use payments as collateral to draw down short-term funds, sell or get refunds on overpaid tax. If you have group related entities, you can even make one deposit and then redistribute the tax once the liability for the year has been determined. It’s about managing and mitigating financial risk.

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