tax pooling

TMNZ’s Liz Taylor celebrates 10-year anniversary

TMNZ’s Liz Taylor celebrates 10-year anniversary Lee Stace

Liz Taylor has been an employee of TMNZ since 2004. Chief Customer Officer Liz Taylor is today celebrating her 10th anniversary with Tax Management NZ. She reflects on her time with the company. Little did Liz Taylor realise when she answered an advert in a community newspaper that she would still be working for Tax…

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Tax tip: Instead of topping up P3, buy tax now and save

Tax tip: Instead of topping up P3, buy tax now and save Lee Stace

Clients with 30 June balance dates who are considering topping up their 28 July (P3) provisional tax can save money now. If they top up when they pay their final instalment of provisional tax on 28 July, they will be charged use of money interest at 8.4 percent from the date of underpayment until 28…

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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

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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Important information about purchasing tax

Important information about purchasing tax Lee Stace

You can no longer purchase tax from Tax Management NZ (TMNZ) to settle 2013 terminal or provisional tax liabilities – unless you have received a reassessment notice from Inland Revenue (IRD). IRD will otherwise not accept the use of tax pool funds to settle these liabilities, as it is beyond 75 days after all terminal…

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Provisional tax doesn’t have to cause cashflow problems

Provisional tax doesn’t have to cause cashflow problems Lee Stace

Small and medium-sized businesses acknowledge there are times of the year when it is difficult for them to make provisional tax payments due to cashflow issues. Tax pooling can help them manage their provisional tax liabilities without breaking the bank. A recent poll on tax payment practices and tax pooling, conducted by the Employers and…

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How to delay paying the taxman

How to delay paying the taxman Lee Stace

Tax Management NZ (TMNZ) has a solution for businesses that might struggle to pay their 7 May provisional tax. It’s called Tax FINANCE. Tax FINANCE allows taxpayers to defer their provisional tax payment to a more convenient time. It provides several benefits. Tax FINANCE allows taxpayers to use the money they would otherwise pay to…

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Simplifying tax pooling – changes to TMNZ’s website

Simplifying tax pooling – changes to TMNZ’s website Lloyd Evaroa

We’ve made changes to the website to streamline our tax pooling services and give more information about what we do. These include: 1.    Access to our calculator straight from the home page. Just click on the calculator and you are there. As before, if you’ve entered a tax year, three dates will populate. If you…

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Terminal tax – it doesn’t have to be terminal

Terminal tax – it doesn’t have to be terminal Mara Fisher

This IRD approved, risk-free way lets you gain more breathing space for your Terminal Tax payment. By using a tax pooling facility, New Zealand law allows taxpayers to delay payment for up to 75 days after the terminal tax date.

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Insights – tax pooling shows economy steady

Insights – tax pooling shows economy steady Mara Fisher

Business results have been steady over the Christmas period, according to the January tax deposits made through TMNZ. However, they may not have lived up to earlier growth expectations.

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