tax pooling

  • Lee Stace
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Cashflow survival: Dealing with terminal, provisional tax
Cashflow survival: Dealing with terminal, provisional tax 1200 630 Lee Stace

The months of April and May can really tax your cashflow. Let me explain. On 7 April, IRD expects you to pay terminal tax for the 2018 income year. Terminal tax means a taxpayer did not pay enough provisional tax for the previous year. As such, they need to square up the difference. To make…

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  • Denise Pimentel
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TMNZ and Xero team up to educate clients
TMNZ and Xero team up to educate clients 600 338 Denise Pimentel

 Xero and TMNZ partnered up earlier this month for Xero’s Education month. Kathleen Payne, TMNZ’s Strategic Partnerships Manager, ran the  webinar educating people on the benefits of tax pooling as well as a practical demonstration of applying TMNZ provisional tax arrangements within the Xero platform.

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Paying provisional tax: The ONE thing you must know
  • Lee Stace
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Paying provisional tax: The ONE thing you must know
Paying provisional tax: The ONE thing you must know 1200 630 Lee Stace

Many a business owner is familiar with paying provisional tax. And the reason they are familiar with it is because they do not like paying it. There are myriad reasons why. But perhaps the biggest issue of paying provisional tax is the inflexibility of IRD. They want you to pay on the dates they set.…

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Image: Working capital
  • Lee Stace
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Tax Finance: An alternative funding source
Tax Finance: An alternative funding source 1200 630 Lee Stace

Growing a business is hard yakka. More specifically, it costs money. And therein lies a problem for many small business owners: Cashflow. In fact, it’s not a problem. It’s a major problem. According to Xero’s Small Business Insights data for June, less than half of those who took the survey have positive cashflow. Less than…

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Image: IRD audit
  • Lee Stace
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IRD audit – how to survive one
IRD audit – how to survive one 1200 630 Lee Stace

IRD audit activity is ramping up. It is monitoring tradies and those operating restaurants, bars, cafes and takeaways closely. After all, it’s noticing a high level of non-compliance by some working in the construction and hospitality sectors. They include business owners who are not declaring part or in some cases all of the income they…

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  • Lee Stace
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Late payments from clients don’t have to impact cashflow
Late payments from clients don’t have to impact cashflow 765 450 Lee Stace

Peter and Heather Wavish, owners of Specialist Glass Cleaning and Protection Late payments from clients can affect cashflow and make it difficult to satisfy other obligations. It’s something Heather and Peter Wavish, owners of Specialist Glass Cleaning and Protection, know well. Hence they turn to Tax Management NZ (TMNZ) to mitigate the ramifications this has…

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  • Lee Stace
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Adding value post-BT with TMNZ’s Partner Programme
Adding value post-BT with TMNZ’s Partner Programme Lee Stace

To recognise the important role tax agents play in providing advisory services to businesses, TMNZ has launched its Partner Programme to help you deliver more value-added benefits to your clients.

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  • Lee Stace
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Wellington, Hamilton next stops on TMNZ’s road-trip
Wellington, Hamilton next stops on TMNZ’s road-trip Lee Stace

TMNZ is gearing up for roadshows in Wellington and Hamilton later this month following successful events in Auckland and Christchurch this week. St James Theatre and FMG Stadium Waikato will play host to speakers from TMNZ and IRD on October 17 and October 19, and attendees will receive two CPD hours. The theme of these…

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  • Lee Stace
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TMNZ roadshows proving popular
TMNZ roadshows proving popular Lee Stace

There has been interest aplenty in TMNZ’s two Auckland roadshows, with more than 300 people down to attend. The two events are slated for 29 July at the Stamford Hotel and 1 August at the Ellerslie Event Centre. As well as getting two CPD hours, attendees will hear from speakers from Inland Revenue (IRD), an…

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  • Lee Stace
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TMNZ happy with government’s revamp of business tax
TMNZ happy with government’s revamp of business tax Lee Stace

The chief executive of New Zealand’s largest tax pooling intermediary, Tax Management NZ (TMNZ), has applauded the New Zealand Government for its decision to be more lenient on how it will apply interest on provisional tax in the future. Prime Minister John Key announced today that Inland Revenue (IRD) will no longer subject businesses using…

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