Charting Our AI Course: TMNZ's Journey
By Eric Troebner
As Chief Technology Officer at TMNZ, I’ve had the privilege of being in the cockpit of our exciting artificial intelligence (AI) transformation. When we first started talking about AI around the time that ChatGPT was released, the conversations were filled with equal parts excitement and uncertainty. Today, I’m thrilled to share how we’ve turned that initial curiosity into some real, measurable impact across our entire business.
Building Our Launch Pad: Getting the Fundamentals Right
The temptation with any new technology is to dive headfirst into the flashiest applications. But our approach has been different from day one. We knew that sustainable AI adoption required rock-solid foundations, so we spent our first year building what I like to call our “AI launch pad.”
This wasn’t glamorous work, but it was essential. We completely overhauled our security framework, implementing stronger role-based access controls that ensure every team member has exactly the right level of system access. We also improved data classification and governance protocols. Every piece of company and client data remains securely within our infrastructure, and no AI model ever touches our sensitive information for training purposes.
The technical infrastructure we built gives our teams access to a carefully curated ecosystem of AI models, from OpenAI and Azure OpenAI to Anthropic Claude, Gemini, and Mistral. But we took it one step further: we created an internal AI portal where every single employee can safely experiment with these powerful tools. Whether it’s document analysis, image generation, or building custom agents, our people can explore AI’s potential within secure, compliant boundaries.
Perhaps most importantly, we implemented modern agent orchestration using platforms like n8n. This means both our technical and non-technical staff can create sophisticated automations without writing code. This launch pad has democratised AI development across our organisation.
Pre-Flight Checks: Education and Experimentation
Once our technical foundation was solid, we moved into what I call our “pre-flight” phase. This was all about preparation, education, and focused experimentation.
At a recent strategy all hands meeting we re-iterated an important truth for everyone: None of us are AI experts, and that is perfectly fine.
This humility is one of our secret weapons. Instead of pretending to know all the answers, we are working to create an environment where curiosity thrives. We run hands-on workshops and proof of concepts for every team, from operations to engineering to sales and marketing.
Each session focused on one key question: what AI application would make the biggest difference to your daily work? We actively encouraged teams to focus solely on what would make the largest impact in their daily workflows – no blue-sky thinking unless it solves their biggest bottleneck.
The results are remarkable. Teams didn’t just brainstorm abstract possibilities – they mapped out specific AI agents that could solve their biggest bottlenecks. Within a month of these workshops, over half our teams had working proof-of-concepts deployed. In just the first four weeks, we tracked over 200 hours of productivity gains across the company, having invested only about 20 hours to build these solutions.
Achieving Liftoff: Real Impact Across the Business
The transition from experimentation to production happened faster than we anticipated, and the results speak for themselves. Today, every business unit at TMNZ has secure AI tooling available to build into their daily workflows. Our product and engineering teams have accelerated discovery, analysis, development and testing, while our sales, marketing, finance, and customer support teams benefit from the first iteration of AI agents that handle everything from content creation to data analysis.
The numbers tell an impressive story. We’ve achieved an estimated 2 percent business-wide productivity uplift from our initial proof-of-concepts alone – equivalent to gaining a full-time employee. These aren’t just theoretical gains; they’re measurable improvements that allow us to do more with less and grow TMNZ.
To be able to speed up the delivery of practical results, proofs of concept at TMNZ are treated as if they are already in production. This allows us to quickly assess effectiveness, adjust on the fly, and confidently decide where to invest further resources and scale solutions.
Landing Safely: Governance and Responsibility
Success with AI isn’t just about speed and efficiency, it’s about doing things responsibly. Our “landing” phase focuses on sustainable scaling while maintaining the highest standards of ethics and governance.
We’ve embedded human oversight into every human-facing AI output – it’s part of our policy to protect both our clients and our reputation. Our practical and clear-cut AI policy ensures that only approved tools run on approved infrastructure, with clear guidelines around confidentiality and responsible usage.
Continuous education remains a cornerstone of this approach. Every new team member receives foundational training on AI terminology, data privacy, and risk management. We’re also building partnerships across organisations that are on the same journey as well as technology partners to enhance our governance frameworks and maintain our leadership in responsible Fintech AI.
Education and training is a true team effort and I am lucky to have highly capable and motivated members of my team and across TMNZ who deliver lunch & learn sessions, present to everyone the emerging AI phishing risks and champion innovative projects with partners.
The Journey Continues
What really excites me about our AI journey is that we’re just getting started. As part of our next phase, we are committed to sharing our learnings with the broader New Zealand business community because we believe AI’s greatest potential lies in collaborative exploration with our partners and customers.
For any business considering their own AI journey, my advice is simple: invest time in getting your fundamentals right, create space for genuine team-driven experimentation, and stay flexible as you learn. The destination matters less than building the capability to navigate whatever comes next.
Here is an outline of the topics we are going to share over the coming months:
- Practical AI Foundations: Policies, Security, Tech Stack
- Managing your AI Agents like staff members
- Shifting to agentic AI
- Avoiding the Number 8 Wire trap
- Practical low-cost AI setup for NZ SMEs
- AI for Accountants and Tax Professionals in NZ
To learn more about TMNZ’s technology innovation for clients, go here.
Review your tax before IRD unexpectedly knocks
By Matt Rama, TMNZ Chief Commercial Officer, Tax Lawyer and Chartered Accountant.
Inland Revenue (IRD) is intensifying its focus on tax compliance, after a few years of leniency to account for the impact of COVID on businesses.
With an extra $116 million in funding, Inland Revenue is stepping up its focus on compliance and auditing tax paying businesses to make sure everyone is “Getting it Right” and is up to date on their tax obligations. IRD expects to recover around $800 million in unpaid tax over the next four years.
Recent media reports that IRD inspectors are making unannounced visits to businesses to review payroll and GST records are also correct. While the so-called hidden cash economy is a target, all businesses need to pay heed to the crackdown on compliance and the technical application of tax rules and regulations.
The importance of voluntary disclosure
Instead of waiting for an unexpected audit, businesses should proactively review their tax compliance. Consulting a tax advisor and making a voluntary disclosure can be beneficial, as IRD offers leniency in penalties for those who come forward.
Shortfall penalties, which can range from 20% for minor mistakes to 150% for tax evasion, may be reduced or waived entirely for voluntary disclosures. A voluntary disclosure takes a lot of heat out of the situation. In contrast, if IRD discovers non-compliance through an audit, businesses could face severe financial penalties or even legal consequences, including imprisonment for serious tax evasion cases.
IRD’s compliance efforts and liquidation trends
Post-COVID, IRD initially adopted a more relaxed approach but has now increased its enforcement. Historically, good businesses struggling due to temporary economic hardship may qualify for instalment plans, but IRD is also targeting “zombie companies” that may have survived the COVID period with government assistance but failed to maintain proper tax practices and may not be viable or sustainable going forward. These businesses may face liquidation to prevent further financial damage.
The number of firms put into liquidation by the IRD has increased 56% to 849 year to date in 2025, up from 549 for the same period in 2024.
From my perspective, putting a company into liquidation is often the right thing to do. An early liquidation due to unpaid taxes and virtual insolvency is better than letting a failing business carry on, doing more financial damage to staff, customers and suppliers.
Inland Revenue appears to be focused on payroll tax compliance, GST, Non-Resident Withholding Tax (NRWT) obligations and industries with a high risk of underreporting income.
Payroll and GST compliance is a particular focus as these are ‘pass-through’ taxes where the business has no right to hold onto the funds. IRD takes a dim view of businesses that knowingly have a GST or payroll liability as these are technically and legally not theirs to keep . That doesn’t mean you shouldn’t pay or delay paying company income tax, but for GST, you’ve already collected the tax so you should have the funds to pay IRD and for PAYE, there are much harsher penalties.
The area of NRWT impacts fewer taxpayers but is also where IRD is finding substantial discrepancies. In a nutshell, NRWT applies to businesses that have borrowed from offshore lenders and are making interest payments to these foreign lenders. These payments generally carry a 15% (or possibly a reduced rate due to treaty relief) withholding tax to IRD. NRWT (at different rates) can also apply to dividends paid to overseas shareholders. Not filing a NRWT return is, let’s just say, problematic for the local borrower.
Inland Revenue is making changes to legislation to help get some of these businesses back on track where they have borrowed from unrelated overseas lenders by allowing them to retrospectively register for ‘Approved Issuer Levy’ which allows the NZ business paying the interest to effectively pay a lower rate.
Take action now
To avoid penalties and ensure compliance, businesses should:
- Conduct a thorough review of all tax obligations.
- Consult with your tax advisor or accountant.
- Make a voluntary disclosure if necessary.
Another feature of the current crackdown is the timeframe. In the past IRD may have only cast back a few years, but we are seeing reassessments going back to 2013 or even 2010 in some cases.
Businesses come to us in shock and say they have big back taxes to pay, plus IRD interest and penalties.
If you have funds and can pay the old tax, plus interest and penalties, that’s ok. But for those that don’t have the funds or want a cheaper option, the best method is to use the services of an IRD-approved tax pool, like TMNZ.
These are funds already paid to IRD for each tax payment date going back, in our case, to 2008. These tax payments are available to businesses to purchase from TMNZ at a significant discount to the IRD penalties and interest.
Any business, providing there is no deliberate tax evasion, can access tax pools. Even companies that owe NRWT and haven’t filed a previous return may be able to use tax pools to pay owed NRWT – an application for IRD discretion to permit the use of tax pooling can be made in the case of a voluntary disclosure –. In fact, you can use TMNZ to fix your reassessed tax for any tax type not just income tax.
How does it work? A business buys backdated tax from the tax pool and instead of paying the IRD interest rate it pays a rate that is always lower than the IRD interest rate. Late payment penalties and the use of money interest will all reverse out if you buy the backdated tax from the pool and get it transferred to your IRD tax account within the stipulated timeframes, which is within 60 days after IRD issues you the reassessment notice (this date is shown on the reassessment notice).
I have been asked that if Inland Revenue is expecting $800 million of reassessments, do you have enough tax payments to cover all of that? Frankly, across all tax pools there is not $800 million available for reassessments. There’s more than enough for current periods (tax years in which tax returns are still able to be filed), because the amount of tax payments steps up exponentially (like in the billions). But because there’s some risk sitting on unrequired funds we don’t hold infinite amounts of tax in those prior periods. It is first come, first served. It’s like land. There’s a limited supply.
As there are people who are proactive, make voluntary disclosures and get the backdated tax first, there’s less for the next person to come along who might get audited by Inland Revenue in two years’ time.
Being proactive can prevent financial and legal repercussions while demonstrating good faith to tax authorities. Stay compliant and avoid the risk of unexpected audits.
This story was published by The Post in March 2025.
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Missed your latest provisional tax payment? How you can find relief
Forgot to pay your provisional tax? Or maybe cashflow was tight and you couldn’t quite make the payment work? Either way, you’re not alone. And more importantly, you’re not out of options.
If you own a business, you know provisional tax and its inflexibility all too well. Miss a due date and the penalties and interest start piling up fast. But here’s the thing – there’s relief available, with TMNZ.
Let us show you how we can help.
What happens when you miss that payment?
When you pay provisional tax late or don’t pay enough by the due date, Inland Revenue (IRD) charges penalties and interest on your unpaid amount:
- A 1% late payment penalty (LPP) kicks in the day after the due date
- An additional 4% penalty hits seven days later – and that’s on top of any existing penalties
- 9.89% UOMI (use of money interest) gets charged daily from the day after the due date until you’ve paid everything, including penalties and interest.
The costs add up quickly. But there’s a way around this.
Enter TMNZ – your relief option
TMNZ pioneered tax pooling – a world-first, and IRD-approved solution. Here’s how it works.
We pool provisional tax payments from multiple businesses in an account we hold as a registered tax pooling intermediary. When one business needs more time to pay, another business’s overpayment covers them. Business helping business.
Because we can backpay your unpaid tax, IRD no longer sees it as a ‘late payment.’ Which means you dodge those penalties and fees entirely.
Whether you simply forgot to pay or cashflow got tight, TMNZ gives you breathing room. You can make a one-off payment when it suits you, or set up regular instalments – giving you up to 13 months to pay your provisional tax.
Missed your terminal tax date too? We can still help slash interest costs and wipe out late payment penalties.
The real deal
TMNZ lets you pay when it actually works for your business. There is some interest to pay – but it’s much lower than IRD’s late payment interest or what you’d pay on business overdrafts or unsecured loans. And tax pooling with TMNZ eliminates those late payment penalties entirely.
All you need to do is tell us how much tax is due and when or how you’d like to pay it. We handle the rest and notify Inland Revenue of your arrangement. Simple.
Take control of your tax payments
Whether you forgot to pay or couldn’t make the payment work with your cashflow, you’ve got options. TMNZ can eliminate those late payment penalties and give you the payment flexibility your business needs.
Contact your accountant or tax agent and let them know you want to use TMNZ’s tax pooling product for your missed or underpaid provisional tax. Or get in touch with us directly to explore your options.
Don’t let a missed payment throw your business off track. With TMNZ, you can navigate tax season with confidence and keep your cashflow working for you.
Ready to take advantage of tax pooling? Contact our team today.
TMNZ: The ultimate cashflow flexibility tool for your business
In tough economic times, it can be hard for businesses to stay on top of cashflow and juggle their tax liabilities. For companies and sole traders dealing with fluctuating cashflow and provisional tax headaches, there’s an easier way to manage your obligations—tax pooling.
Did you know TMNZ’s tax pool can help you manage your tax by matching your cashflow forecasts with your provisional tax payments? And you can use tax pool deposits as an alternative funding source when cashflow is tight.
How we can help
TMNZ is an Inland Revenue (IR)-approved tax pooling provider, meaning you can use us to pay income tax on your behalf at a time that suits you. We offer greater flexibility over how and when you pay provisional tax.
First, you’ll need to think about your cashflow forecast. If you’re unsure how to put one together, read our cashflow management guide.
Once you’ve got your cashflow projection, we can work together to figure out the best time to pay your provisional tax. From there, all you need to do is tell us your tax amount owed, the date it is due, and how you would like to pay.
When your tax bill arrives, we’ll transfer the amount required to IR on your behalf as a time-stamped payment. IR will treat your tax as if it was paid on time, eliminating the risk of being charged interest or late payment fees. Simple.
A working capital solution
TMNZ’s payments to IR mean you can keep money in your business and use it at the times of the year you’ll need it most. You can top up your payments later into our tax pool at any time.
Tax pooling is a perfect solution for businesses worried about future cashflow and looming obligations. By partnering up with us, you’ll have total control over your tax bill, rather than working around IR’s strict deadlines.
With no more late fees and interest charges from IR to think about, you can get on with running your business. There will be no need to scrape together funds in the middle of holidays or quiet periods to meet IR’s deadlines.
TMNZ can also save you money by avoiding penalties and interest charges if you’ve missed or underpaid tax. We charge much lower interest rates than the penalties imposed by IR if you’re overdue.
We’re a line of credit
Another amazing TMNZ feature is that we can be a line of credit for your business.
If you’ve deposited funds into our tax pool but find yourself short on cash, you can withdraw that money whenever you want to use it as working capital.
If you’ve paid provisional tax into our pool, you’ll have access to a working capital facility up to the value of your deposit. This provides even more flexibility for you and your team to get through a cash crunch and stay on top of debt management.
We can offer much cheaper interest rates than bank loans, overdrafts, or unsecured loans, meaning money withdrawn from our pool is better for you and your business, putting you in a stronger position at the end of the year.
Ready to learn more about the benefits of tax pooling?
Download our guide to Better Cashflow Management for top tips on managing cashflow throughout the financial year.
If you’re ready to take control of your tax and gain access to a valuable line of credit for your business, find out more at by reading our Tax Pooling 101 page to learn more about the full range of benefits of being in our pool.
Then talk to your tax adviser about TMNZ tax pooling to take away your tax management worries.
How TMNZ tech takes the pain out of tax
As New Zealand’s first ever tax pool, we’re proud of our long history of innovation. It’s at the heart of everything we do, and we’re always looking for new ways to simplify tax.
Technology has been at the forefront of our efforts, whether it’s rolling out new features for our customers, adding new functionality online, or partnering with forward-thinking digital platforms.
Recently, we’ve rolled out some amazing tools to help our customers and their accountants easily manage income tax.
Discover our top tech solutions to help you take the pain out of tax time, including tools to cut down on admin, share data between platforms, and get instant information on things like tax swaps.
Direct Inland Revenue Integration
TMNZ’s online dashboard is fully integrated with Inland Revenue (IR), meaning taxpayer information held by IR can be seamlessly shared on our platform, to make accountants lives easier.
In the past, accountants had to deal with multiple systems and spreadsheets to find accurate IR information. Integration means this admin work is no longer required.
Inland Revenue and TMNZ systems are directly connected so that key IR information is automatically populated on our dashboard. All relevant IR data, including Residual Income Tax figures, filing dates, and direct IR transactions appear on the TMNZ dashboard once you’ve logged in.
Thanks to IR integration, accountants can save time and reduce admin work. Direct IR integration also removes the risk of manual errors as clients populate information from one platform to another, making the process much more efficient.
IR information is fed into our calculator to help you determine your (or your client’s) tax position as quickly as possible.
Kathleen Payne, Partnerships Director at TMNZ, says:
“Following IR integration, all the data you need for your calculations goes straight onto our dashboard. All you have to do is put in the current year’s position that IR might not know yet, and everything is calculated without further data entry.”
If clients need any assistance with our direct IR integration, then TMNZ's friendly support team is on hand to help. And you can find out more about IR integration here.
Taxlab integration
Our systems are also fully integrated with Taxlab, the cloud-based tax software system designed specifically for New Zealand accountants.
Taxlab integration is easy to set up and use. Once you’ve completed the process, TMNZ transactions will appear on the Taxlab platform. Clients no longer need to use different systems to calculate their tax position.
“Accountants will get a complete picture of all TMNZ transactions sitting against their clients’ tax year,” Kathleen says.
Like IR integration, the setup couldn’t be simpler:
- log in to Taxlab, go to ‘Settings’, and add TMNZ as a connection
- you’ll then be directed to TMNZ to log in and confirm
- from there, you’ll be able to view TMNZ tax pooling information, including a full history of purchases, deposits, transfers, and tax payments.
Integration with Taxlab reduces the time and effort spent sharing information across the two platforms, giving tax agents even more time for their valuable client work.
Group Optimiser
If you’re a busy accountant in public practice looking to manage the tax year for groups of clients, TMNZ’s Group Optimiser tool is tailor-made for you.
This innovative feature enables accountants to calculate the position of several taxpayers and create multiple transactions at once.
Used alongside IR integration, Group Optimiser can make tax calculations even simpler.
Kathleen adds:
“Instead of having to prepare spreadsheets for each member in a group and then decide who has overpaid or underpaid tax, agents can use our calculator to enter a small amount of information. Then, at the click of a button, Group Optimiser calculates how to use the tax across the group in the most effective way.”
Group Optimser is ready and waiting on the TMNZ dashboard. All you need to do is log in.
Upcoming Deadlines
The Upcoming Deadlines function on the TMNZ dashboard is another of our top tech features.
For accountants managing several tax pooling clients, the Upcoming Deadlines feature can be used to track taxpayers ahead of key dates.
Offering total visibility over client tax positions as deadlines approach, the tool suggests prompts and actions to finalise the year.
“It also gives accountants a control list to work through their clients and ensure everything has been finalised,” Kathleen says. “It’s a workflow and control function and will remind advisers about everything they need to do for their clients.”
Automated Tax Swaps
TMNZ’s automated Tax Swaps is our latest dashboard feature, enabling clients to get instant quotes and process swaps below the threshold*.
Tax Swaps allow clients to even out their provisional tax payments if they have overpaid on one date and underpaid on another, saving on IR interest costs.
With our automated Tax Swap service, clients will benefit from faster, more efficient processing
The best part? The Tax Swap function is DIY.
“It’s a self-service system,” Kathleen explains. “If a client knows the swap they want to do, our system will automatically say, ‘Yes, you can do it, and this is the interest you’ll get’. You won’t have to interact with us at TMNZ. You can do-it-yourself.”
“It’s super efficient,” she adds. “Clients will have certainty of the outcome, they’ll know how much interest they’ll have to pay, or what they can earn, in an instant.
“At TMNZ, we’re all about flexibility, and empowering our customers to make decisions at a time that suits them.”
Automated Tax Swaps launched recently, following our pilot with TMNZ's Early Adopter community in April.
Become an Early Adopter
Are you part of TMNZ’s Early Adopter community, who gets first access to all our latest tech features?
Early Adopters enjoy the benefits of our new products and enhancements before anyone else, with support and training to help you make the most of new tools.
As an Early Adopter, you can share feedback and experiences to help us develop the best tech possible for accountants and clients.
“We love working with people to create the best tax solutions possible,” Kathleen adds. “Our Early Adopters are highly motivated, creative people who want to help us get even better.”
If you’re a tech savvy tax pooling user in an accounting firm, become an Early Adopter in a few simple steps:
- login to your dashboard
- Select your firm
- select ‘Early Adopter Programme’, from the left-hand menu
- review and accept the Terms and Conditions presented
- click the ‘Sign up’ button.
To learn more about TMNZ’s latest tech developments, head to our Innovative Tax Technology page or contact our support team today.
*the threshold is subject to change depending on market conditions.
TMNZ Board announces new Chief Executive
TMNZ is thrilled to announce the appointment of Matt Edwards as CEO, effective 1 May 2024.
Matt joins TMNZ following 16 years of strategic leadership and entrepreneurial experience, working in the FinTech sector in the United Kingdom and across Europe.
The appointment signals the next chapter in TMNZ’s journey, as the purpose-led tax pooling originators and market leaders look to help more New Zealand businesses, in exciting new ways.
Board Director and TMNZ Founder Ian Kuperus said:
“We’re delighted to welcome Matt to TMNZ. Matt is extremely well regarded overseas for his senior leadership of people, strategy, technology, innovation and product capability areas. Now our New Zealand business, and our customers, will benefit from this deep experience.”
Matt’s background shows that he is a growth specialist, with a track record of driving businesses forward, developing high-performance teams and bringing transformational change to businesses looking to take the next step.
New CEO Matt said:
“TMNZ has developed an enviable reputation as an industry leader in tax pooling services. I believe the business is primed and ready to take the next step, by changing up how we deliver our current market offering and better serving our customers' needs in a dynamic FinTech world. I am very excited about the opportunity to drive this vision."
The appointment follows news of former CEO Chris Cunniffe retiring from his position in January 2024, but continuing in an advisory capacity to support a smooth leadership transition. The TMNZ Board personally thanked Chris for 12 fantastic years of leadership. The Board also thanked Amanda Thorpe, for guiding the business through the transition period in her role as Acting CEO.
Under Matt’s leadership, TMNZ remains committed to building on its successes and delivering the best client experience, as well as continuing to donate its profits to Whakatupu Aotearoa Foundation for a restored and thriving New Zealand.
For queries please contact TMNZ Brand and Marketing Director at charlotte.tremewan@tmnz.co.nz
Tax Drawdown: Use your tax payments as a line of credit
Every now and then, businesses can encounter cashflow struggles, whether you have overdue invoices or an unexpected bill to pay. When this happens, it’s typical to ask your bank for help. But did you know there’s an easier, cheaper way?
As a TMNZ customer, you can access funds you have paid into our tax pool at any time. You can draw out your deposits as an affordable line of credit without the headache of a loan application, conversation with a bank, or Inland Revenue (IRD) paperwork and still keep your original tax deposit date.
How it works
Imagine your business is suddenly hit with a big cost and you need some quick cash. By getting in touch with TMNZ, you can access the money you’ve already paid into and held in our pool.
You can draw down the funds on a temporary basis, and our flexibility helps you solve a short-term business challenge in a simple, cost-effective way.
TMNZ Tax Drawdown allows you to use your tax payments in the pool as collateral to take out funds at attractive interest rates. You can request money at any time and it will land in your account within three to five business days (provided AML requirements are met).
The benefits
Tax Drawdown puts you in control. You can borrow money for a minimum of four weeks or a maximum of up to 75 days after your terminal tax date. Once you’ve paid us back, we can continue to hold those tax payments in the pool (which will be available for a future drawdown) or transfer the payments to the IRD to meet your tax liability.
Small businesses and larger companies alike can tap into Tax Drawdown, and there’s no limit to how much of your tax deposit you can withdraw.
If your current tax pool doesn’t do drawdowns, fear not. You can transfer your tax pool payments to us and kick-start the process immediately.
While Tax Drawdown is a bit like a line of credit, we don’t charge line fees or establishment fees like the banks.
TMNZ can also offer more competitive interest rates than the banks. Our rates are the same as our finance rates, which are much closer to the cost of a home loan than a small business loan. Interest costs depend on how much money you take out and the duration of your withdrawal and you’re only charged for the period you use the funds.
Kathleen Payne, Director of Strategic Partnerships at TMNZ, says Tax Drawdown can be a business lifeline.
“It’s really useful for businesses that need to make a capital investment, buy stock, or simply position themselves for the rest of the year. People can use our tax pool to their advantage and it’s so easy to do, with interest costs limited to the time they’re using the funds. It’s another working capital option for businesses, particularly in an environment where cashflow is causing a lot of constraints.”
How to use Tax Drawdown
Accessing your money is a painless process. Get in touch with us or ask your tax adviser to call or email our team.
Kathleen says Tax Drawdown applications are “relatively simple” and can be made multiple times a year.
“A small amount of information needs to be provided. We ask how much money you need and how long you need it for. We then work out your interest rate, finalise the terms, and get it signed.”
Kathleen says Tax Drawdown can help businesses and the New Zealand economy by freeing up money for investment and growth.
“If you think about what businesses use the funds for, it’s additional spending in the economy. Tax Drawdown enables people to use money at a reasonable cost to make capital investments, investments in staff, or meet a market challenge.
“All of these things help businesses survive and thrive, and it has a circularity for the whole economy,” she says. “It’s money going back into the business community while helping companies meet their tax liability. So everyone’s a winner.”
In need of flexible, affordable financing? Contact our team to take advantage of Tax Drawdown today.
TMNZ leadership update, January 2024
After 12 years successfully leading and growing Tax Management New Zealand (TMNZ), Chris Cunniffe has announced he will be retiring from his position and leaving the business in 2024.
While Chris will step down as CEO on 31 January, he will continue to support TMNZ in an advisory capacity, ensuring a smooth transition to TMNZ’s next Chief Executive.
Board Director and TMNZ Founder Ian Kuperus personally recognised Chris for his outstanding service:
"Chris has made a significant contribution to TMNZ, growing our purpose-led tax pooling business from seven people in 2011 to over 70 today, helping hundreds of thousands of taxpayers across New Zealand. Chris has shown an unwavering commitment to his team, clients and communities, through Whakatupu Aotearoa Foundation."
The Board has appointed current TMNZ Head of Transformation and People, Amanda Thorpe as Acting CEO, effective 1 February 2024.
“Amanda brings senior leadership experience in transformation, culture and high-performance, here in Aotearoa and overseas. We’re fortunate that Amanda, as Acting CEO, is well positioned to support the business through the next period of change.” says Ian.
Amanda will work closely with the TMNZ Leadership Team including Acting Chief Operating Officer, Matt Rama who prior to TMNZ managed another tax pooling business.
As TMNZ looks to the future, the business remains committed to continuing to build on its successes and delivering the best people and client experience, as well as continuing to donate its profits to Whakatupu Aotearoa Foundation for a restored New Zealand.
The TMNZ Board has begun the recruitment process for a permanent CEO and once complete, new leadership will be communicated through TMNZ channels.
For queries please contact TMNZ Brand and Marketing Director, at charlotte.tremewan@tmnz.co.nz