Depositing into TMNZ’s tax pool account means you have flexibility over all your provisional and terminal tax payments and can decide how to best make tax work for you.
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.
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.
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