terminal tax

Image: AIM and tax pooling
  • Lee Stace
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AIM and tax pooling
AIM and tax pooling 1344 897 Lee Stace

Legislation prevents taxpayers from using tax pooling to pay AIM provisional tax instalments. We are issuing this reminder as IRD notifies us they are seeing several tax pooling transactions for these types of payments. Section RP17B (2)(a) Income Tax Act 2007 says an amount held in a tax pooling account on behalf of a taxpayer…

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Last chance to pay 2017 income tax
Last chance to pay 2017 income tax 1920 1130 Lee Stace

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…

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Reduce interest costs on audits
Reduce interest costs on audits Lee Stace

TMNZ has recently received a number of enquiries from clients wishing to pay an historic tax liability through us. We would like to remind clients that we can help reduce IRD interest costs by up to 30 percent and eliminate any late payment penalties if they have received a notice of reassessment from IRD due…

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Providing much-needed breathing space
Providing much-needed breathing space Lee Stace

Sara and Steve Owen. Photo: Stuart Munro, Wanganui Chronicle Independent Carbon Brush in Whanganui says TMNZ is a “real godsend”. Here’s how we’ve helped this husband and wife business pay income tax on its terms. The question Sara Owen of Independent Carbon Brush asked her accountant in 2010 sums up how valuable TMNZ has been…

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Time running out to buy 2015 income tax
Time running out to buy 2015 income tax Lee Stace

Clients with a 7 April terminal tax date have until 15 June to purchase 2015 income tax from TMNZ. Inland Revenue will not accept the use of purchased tax pool funds to settle 2015 income tax liabilities if your clients are more than 75 days past their terminal tax date. In order for us to…

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Last date to purchase 2015 income tax for clients with 15 January terminal tax date
Last date to purchase 2015 income tax for clients with 15 January terminal tax date Lee Stace

Please be aware that if you have a 15 January terminal tax date you have until 22 March to purchase tax from Tax Management NZ to settle 2015 income tax liabilities. Inland Revenue will not accept the use of purchased tax pool funds if you are more than 75 days past your terminal tax date.…

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Important tax pooling deadlines to settle 2015 income tax liabilities
Important tax pooling deadlines to settle 2015 income tax liabilities Lee Stace

Please refer to the table below for key tax pooling deadlines of which you need to be aware if your clients need to use tax pooling to settle underpaid 2015 income tax liabilities. IRD will not accept the use of purchased tax pool funds to settle 2015 income tax liabilities if your clients are more…

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Flexitax – TMNZ’s most flexible way to pay income tax
Flexitax – TMNZ’s most flexible way to pay income tax Lee Stace

Businesses wanting to ease the burden income tax payments have on cashflow and have greater flexibility around their payments now have another way to pay. They can pay their provisional and terminal tax through Tax Management NZ (TMNZ) via monthly instalments, where they pay what they can, when they can. Tax pooling intermediaries, which are…

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Not too late to buy 2014 tax
Not too late to buy 2014 tax Lee Stace

Please be aware that March-September balance date clients with an extension of time who have yet to settle their 2014 income tax liabilities have until 15 June to buy tax from Tax Management NZ (TMNZ). If any of your clients have a 7 April terminal tax date and need to buy tax, log in to…

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Tax pooling deadline for March balance date clients without EOT
Tax pooling deadline for March balance date clients without EOT Lee Stace

Please be aware that March balance date clients without an extension of time (EOT) who have yet to settle their 2014 income tax liabilities have until 15 April to buy tax from Tax Management NZ (TMNZ). If any of your clients have a 7 February terminal tax date and need to buy tax, log in…

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