Instead of making provisional tax payments to the IRD, taxpayers may choose to deposit into TMNZ’s tax pool at IRD. These funds are date stamped as at the original date of payment. Once the taxpayer is certain of the liability for the year, they can request the exact amount of funds they want transferred from the pool to cover the liability.

Liz Taylor, our Client Relationship Manager, explains TMNZ’s tax deposit product for provisional tax payers with an advantage account.

Further resources:

• Our Provisional Tax Guide
• Check out our calendars for standard provisional tax dates and alternative provisional tax dates