late payment penalties Archives | Tax Management New Zealand

Lee Stace
May 10, 2018
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Reminders

Last chance to pay 2017 income tax

Last chance to pay 2017 income tax https://www.tmnz.co.nz/wp-content/uploads/2018/05/2017-calculator-765x450.jpg 5130 3018 Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g May 10, 2018 May 10, 2018

The last chance to pay 2017 income tax through TMNZ is 18 June. This is for clients with March-September balance dates who have a terminal tax date of 7 April . Due to tax pooling legislation, TMNZ can only assist up to 75 days past your terminal tax date. IRD will not accept the use of…

Lee Stace
February 13, 2015
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How to use provisional tax to grow business

How to use provisional tax to grow business Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g February 13, 2015 April 19, 2018

Tax pooling frees up the cashflow businesses need to take advantage of favourable economic conditions. The business outlook for the coming year is positive, with reports indicating that 2015 will be another strong one for the New Zealand economy. According to a survey conducted by the Employers and Manufacturers Association at the end of last…

Lee Stace
January 8, 2015
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Avoid a cashflow problem in the New Year

Avoid a cashflow problem in the New Year Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g January 8, 2015 April 19, 2018

Here’s how you can delay paying 15 January provisional tax to free up working capital at a time of year when businesses are likely to need it most. The early part of the New Year can be a challenging time for small and medium sized businesses. Results from a poll conducted by the Employers and…

Lee Stace
December 16, 2014
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A way to solve Christmas cashflow issues

A way to solve Christmas cashflow issues Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g December 16, 2014 April 19, 2018

The period after Christmas can be tough for many small and medium sized businesses. According to more than half the respondents to a poll conducted by the Employers and Manufacturers Association, January to March is when they tend to experience cashflow constraints. It’s hardly surprising, really. The period after Christmas is traditionally slow business-wise. Consumers…

Lee Stace
October 28, 2014
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New form of protection from IRD penalties, interest

New form of protection from IRD penalties, interest Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g October 28, 2014 April 19, 2018

Taxpayers with volatile income can now protect themselves in advance from the risk of incurring hefty IRD late payment penalties and use of money interest (UOMI) if they have a better-than-expected financial year. Tax SHIELD™, a new product from Tax Management NZ (TMNZ), lets taxpayers put an arrangement in place whereby they pay an upfront…

Lee Stace
September 1, 2014
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Reduce the cost of underpaid provisional tax

Reduce the cost of underpaid provisional tax Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g September 1, 2014 April 19, 2018

If you think you might have underpaid at any of your provisional tax dates for the 2014 income year, you can save money if you buy tax from Tax Management NZ. Purchasing tax from us eliminates IRD late payment penalties and reduces interest costs by up to 30 percent. Contact us today should you require…

Lee Stace
August 27, 2014
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Not all clowning around at Reckon conference

Not all clowning around at Reckon conference Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g August 27, 2014 April 19, 2018

Photo: supplied. Tax Management NZ’s Daniel Relf and Doug Maarschalk briefly joined the circus in Australia last week. Well, sort of… The duo were among a number of New Zealand and Australian accountants and bookkeeping professionals at Sydney’s Hilton Hotel who embraced the circus theme during the gala dinner of the 2014 Reckon Group Conference,…

Lee Stace
August 12, 2014
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Relieve winter cashflow pressure

Relieve winter cashflow pressure Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g August 12, 2014 April 19, 2018

The winter months can wreak havoc with your cashflow. So much so, in fact, that sometimes the last thing you want to do is pay provisional tax. Some of those with a March financial year-end can probably relate to this situation, as they will pay their first instalment of provisional tax for the 2015 income…

Lee Stace
July 16, 2014
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A legitimate way for farmers to keep the taxman at bay

A legitimate way for farmers to keep the taxman at bay Lee Stace Lee Stace https://secure.gravatar.com/avatar/f49aa15ec0cf374c0a01e6c2d1099979?s=96&d=mm&r=g July 16, 2014 April 19, 2018

Using tax pooling to defer untimely provisional tax payments can save farmers money, as it eliminates IRD late payment penalties and use of money interest charges. In this article, we look at how it might be of use to farmers who are wishing to reinvest in their business. Farmer Joe has a conundrum. Overall, business…

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