What is Residual Income Tax (RIT)?
Residual income tax explained
Residual Income Tax (RIT) refers to the income tax payable by an individual or business after subtracting any tax credits they are entitled to but before deducting any provisional tax already paid.
Read more: Provisional tax 101: making things easy
This description is correct as of June 1, 2023.
More info…
- Learn more about RIT in our provisional tax guide
- Find a TMNZ Premium Partner to walk you through your options
- Speak to one of our team about how we can help
More useful tips and guides for paying tax
We’re here to support you with flexible and innovative tax solutions.
- Find a TMNZ Premium Partner for tax pooling advice
- Improve your cashflow with our Better Cashflow Management guide
How to calculate provisional tax using the Standard Uplift Method and use tax pooling to avoid IR UOMI and late payment penalties
Current version available for download: October 2022
Previously published version(s): August 2019, February 2020