What is Tax Pooling?
It’s an IRD approved way to manage the pain of paying provisional tax. So you pay when it suits your cashflow, instead of the other way around – avoiding penalties and giving you real peace of mind.
How does it help?
There are two main ways Tax Pooling can help. The first option lets you choose to pay your provisional tax in lump sums, or spread them out up to 75 days after your terminal tax due date. With any interest lower than typical bank overdraft fees.
The second option lets you take control of future provisional tax payment dates – where we transfer back-dated tax into your IRD account on time for a fee (which is also tax-deductible.)
Either way, approval is guaranteed with no security needed.
What’s in it for me?
You’ll buy time
You’ll get up to 75 days after your terminal tax date to pay.
You’ll reduce costs
Avoid interest on business loans and keep your money longer.
You’ll avoid penalties
Save up to 30% on interest costs and avoid late payment penalties.
You’ll get flexibility
Pay tax payments in easy instalments or lump sums.
How Walker & Co Real Estate are doing tax on their terms
Two ways we can help New Zealand businesses
1
Make your provisional tax payments match your business cashflow so you pay how and when it suits the business
Flexitax® gives you cashflow flexibility so your provisional tax payments suit your business, without worrying about IRD interest or late payment penalties.
You can choose to pay provisional tax in lump sums or spread out tax payments over time (up to 75 days after your terminal tax date).
The interest charged is tax deductible and based on competitive lending rates (lower than bank overdraft fees). Approval is guaranteed and no security is required.
2
Defer provisional tax payment dates so you keep money in the business for longer and reduce lending costs
Tax Finance allows you to take control over a future provisional tax payment date and gives the certainty of a fixed fee paid upfront.
Choose a preferred date to pay, and make your provisional tax payment on the date you chose. We then transfer back-dated tax into your IRD account so it’s as if you paid on time.
The fee is also tax deductible and based on competitive lending rates. Approval is guaranteed and no security is required.
How to start tax pooling with TMNZ
What our customers say about TMNZ
This is great for small business to manage their cashflow.
– Jacqueline Ironside
Ease of use, cashflow benefits especially for a sole trader.
– Robert Cleland
I found the whole process really easy, my lovely accountant set it up for me and it gives me flexibility with my cash flow, thank you!
– Carolyn Gemmell
[TMNZ has] been really helpful for us as a small business, it has made things a lot less stressful.
– Melissa Randell
Excellent service. Flexible payments, [which is] especially helpful for clients who have erratic cashflows. Competitive interest rates compared to IRD. [If] clients don’t end up taking up the offer, there are no penalties from TMNZ.
– Joy Keaney