Whenever you make a tax deposit into TMNZ’s tax pool, this is date-stamped as at the the date of deposit and is held in the pool. For instance, a taxpayer makes a deposit into the tax pool on 28 August 2019. Their deposit will carry this date.

We only transfer that deposit from the pool after the taxpayer (or a person acting on their behalf such an accountant or tax agent) ask us to.

When you deposit funds into a tax pool with TMNZ, you can minimise risk while increasing your earnings as much as possible. Maximising tax deposits allows you to earn interest on overpayment of tax.

When you overpay tax into our tax pool, you have the potential to earn a significantly higher rate of interest on overpayment of funds than you would receive from IRD. You can then easily withdraw funds, move them over to the next financial year, or even draw on the funds as a line of credit.

With TMNZ, you make provisional tax work for your business. Depositing into the TMNZ tax pool means you can swap payments between dates, use payments as collateral to draw down short-term funds, sell or get refunds on overpaid tax. If you have group related entities, you can even make one deposit and then redistribute the tax once the liability for the year has been determined. It’s about managing and mitigating financial risk.

Working capital management is important, as working capital is the lifeblood of any business. Working capital is comprised of a company’s cashflow, assets and liabilities. By closely monitoring and managing working capital, businesses can maintain smooth operations while maximising profitability. TMNZ offers effective working capital management techniques to optimise your business’s efficiency.

Tax Finance is a popular solution for many of our large corporate clients. This allows you to pay the full provisional tax payment on one future date that suits your business. With a fixed upfront fee and a payment date to suit you, Tax Finance offers certainty over costs and payment times. This certainty assists your business to maintain efficient working capital management.

By working with TMNZ, you can enjoy increased flexibility without worrying about the penalties. Tax Finance is a way to improve your working capital management so that your business can continue to run smoothly, especially when cashflow is an issue at tax time.

TMNZ Tax Drawdown allows you to use your tax payments in the pool as collateral to take out funds at attractive interest rates which are more competitive than the banks. You can request money at any time and it will land in your account within three to five business days (provided AML requirements are met). Access to money is guaranteed, and there’s no additional security required.

With Tax Drawdown you can borrow money for a minimum of four weeks or a maximum of up to 75 days after your terminal tax date. Once you’ve paid us back, we can continue to hold those tax payments in the pool (which will be available for a future drawdown) or transfer the payments to the IR to meet your tax liability.

Small businesses and larger companies alike can tap into Tax Drawdown, and there’s no limit to how much of your tax deposit you can withdraw. Contact us to discuss how Tax Drawdown can put you in control of your cashflow.