Get some cover during tax audits
TMNZ has the largest pool of audit tax in New Zealand. The oldest tax in our pool goes as far back as 2007, putting us in the best position for tax audit protection. For accountants working with clients with historical tax audit liabilities, TMNZ has the resources and experience to provide the cover you need.
Reduce costs on missed or underpaid income tax
If your client owes additional tax due to a tax reassessment or a voluntary tax disclosure (i.e an increased amount of tax above the original assessment), we can help save them some money. By using TMNZ, your client can reduce interest costs by 30%, as well as save on tax audit penalties.
No worries as long as its within 60 days
When using TMNZ for reassessed tax arising from a tax audit or voluntary disclosure, there are a couple conditions. A tax audit can eliminate late penalties (excluding shortfall penalties), as long as the tax reassessment was issued in the last 60 days. It’s also important that the original tax return was filed.
Use it for ALL forms of tax
A TMNZ tax audit lets you take care of any type of tax. This includes PAYE, FBT, GST, NRWT, terminal tax and provisional tax. No matter what tax you owe, we will help make your tax reassessment stress-free for you and your clients. Contact us to find out how we can help for tax audits or voluntary disclosures.
There’s a couple of important things we need to know before we get started. If you need help finding these, contact your accountant or get in touch with us directly.
01. The amount that’s been reassessed
This is the increased amount of tax owed as a result of the tax audit.
02. The date that the reassessment took place
Legislation provides 60 days to use pooling.