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Lloyd Evaroa

AML and the requirements for tax pooling
AML and the requirements for tax pooling 150 150 Support

An overview of AML The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML-CFT) requires the likes of banks, accounting firms, lawyers, conveyancers, real estate agents, casinos, high- value asset dealers, trust and company service providers, and tax pooling intermediaries to take measures to detect, report and deter money laundering and terrorism financing. How…

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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…

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What is the difference between a Flexitax instalment and a Finance instalment?
What is the difference between a Flexitax instalment and a Finance instalment? 150 150 Support

With a Flexitax instalment, we calculate what we expect each instalment to be based on current interest rates. Should you underpay or overpay on a given instalment, or interest rates change, we’ll automatically calculate if a new instalment amount is required, without changing your final instalment date. Finance instalments are a fixed rate option where…

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How long does it take for my transferred tax deposits to show up in my IRD account?
How long does it take for my transferred tax deposits to show up in my IRD account? 150 150 Support

Your tax will be sent to IRD within three to five working days of when the transfer was organised. TMNZ will be in touch with you throughout the process. From here, IRD normally takes up to three weeks to process the transfer.

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What is Flexitax®?
What is Flexitax®? 150 150 Support

Flexitax® gives you greater flexibility over how you pay your provisional or terminal tax, while eliminating late payment penalties and reducing IRD interest costs by up to 30 percent. You can pay what you owe in one lump sum, at a date of your choice, or spread out payments via instalments.

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Can I use tax I have deposited into the pool be used for other tax payments?
Can I use tax I have deposited into the pool be used for other tax payments? 150 150 Support

Yes, if you have deposited funds in our tax pool and need to make a payment to another tax type on or after that tax date, get in touch with us and we will assist in organising the transfer.

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What tax can I pay using Flexitax®?
What tax can I pay using Flexitax®? 150 150 Support

Flexitax® can be used to pay missed, underpaid or upcoming income tax payments for the current tax year or one just completed.

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How long do I have to pay my off Flexitax® arrangement?
How long do I have to pay my off Flexitax® arrangement? 150 150 Support

You have until 75 days past your terminal tax date to pay the income tax you owe using Flexitax®.

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How long do I have to pay for my reassessed tax through TMNZ?
How long do I have to pay for my reassessed tax through TMNZ? 150 150 Support

You have 60 days from the date the IRD notice of reassessment was issued in which to pay the additional tax through us.

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How does Tax Finance work?
How does Tax Finance work? 150 150 Support

Ahead of your provisional tax date, you pay us an upfront finance fee and we make a date-stamped tax deposit on your behalf into our tax pool account at IRD. The finance fee you pay is based on the amount of tax financed and the date in the future you wish to pay. At the…

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