terminal tax

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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Missed paying 7 April terminal tax? There’s no need to worry

Missed paying 7 April terminal tax? There’s no need to worry Lee Stace

You do not need to worry if you missed paying terminal tax for the 2014 income year on 7 April. Tax pooling can be used up to 75 days after your terminal tax date to settle 2014 provisional and terminal tax liabilities. Buying tax from Tax Management NZ (TMNZ) can eliminate Inland Revenue late payment…

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Important information for clients with 7 February terminal tax

Important information for clients with 7 February terminal tax Lee Stace

Please be aware that clients with a 7 February* terminal tax date who have not settled their 2014 income tax liabilities must pay for tax purchases before 15 April. There is no discretion for late tax purchases to be transferred to Inland Revenue (IRD). If your clients need to buy 2014 provisional or terminal tax,…

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Tax pooling deadline for December balance dates

Tax pooling deadline for December balance dates Lee Stace

Please be aware that clients with December balance dates who have not settled their 2014 income tax liabilities must pay for tax purchases before 31 March. There is no discretion for late tax purchases to be transferred to Inland Revenue (IRD). If any of your clients have a 15 January terminal tax date* and still…

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Overdue terminal tax does not have to be terminal

Overdue terminal tax does not have to be terminal Lee Stace

Terminal tax – what is it? You may have heard your accountant or bookkeeper mention ‘terminal tax’ before, but what does it actually mean and why is it important to be aware of it? Terminal tax is the difference between what you have paid to Inland Revenue (IRD) in provisional tax over the previous income…

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Last chance to settle 2013 tax liabilities

Last chance to settle 2013 tax liabilities Lee Stace

Those with clients who have a 2013 terminal tax date of 7 April can still purchase tax – but must arrange to do so immediately. Tax Management NZ (TMNZ) has a plentiful supply of tax available to save your clients late payment penalties and Inland Revenue (IRD) use of money interest should they not have…

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Reduce the cost of paying late terminal, provisional tax with tax pooling

Reduce the cost of paying late terminal, provisional tax with tax pooling Lee Stace

Anyone who has been hit hard by Inland Revenue (IRD) late payment penalties and use of money interest (UOMI) for unpaid or underpaid tax knows how crippling this can be. It’s the last thing you want to happen. However, using tax pooling to settle income tax liabilities reduces your exposure to late payment penalties and…

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KEY INFORMATION: 2013 terminal tax

KEY INFORMATION: 2013 terminal tax Lee Stace

Do not worry if you have missed your 7 April terminal tax deadline. Taxpayers can still purchase tax for 2013 up until 16 June if they need to settle their tax liabilities. However, those with 7 February terminal tax are out of luck. They will not be able to use tax pooling to settle this…

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