What happens when an instalment payment is missed?

What happens when an instalment payment is missed?

What happens when an instalment payment is missed? 150 150 Support

Underpaid or missed Flexitax instalment

Upon a missed or underpaid Flexitax instalment we automatically adjust the remaining payments so that your desired end date is unchanged. For example, if a Flexitax instalment arrangement has 5 payments of $1000 and the first one is missed, the 4 remaining will then become $1250.

Underpaid or missed Finance instalmentĀ 

Upon a missed or underpaid Finance instalment, the amount underpaid or missed will create an independent Flexitax arrangement with TMNZ. Future Finance instalment dates and amounts will not change.

Taxpayers will be able to make payments towards the created Flexitax arrangement as they are able. TMNZ will apply payments made outside the instalment schedule to the created Flexitax arrangement.

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