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Lloyd Evaroa

I made a deposit into the TMNZ tax pool. When do imputation credits arise?

I made a deposit into the TMNZ tax pool. When do imputation credits arise? 150 150 Support

Where income tax is deposited into the TMNZ tax pool, imputation credits will arise in the imputation credit account on the date of the deposit (section OB 5 of the Income Tax Act 2007).

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I have a Flexitax (Tax Purchase) arrangement with TMNZ. When do imputation credits arise in my imputation credit account?

I have a Flexitax (Tax Purchase) arrangement with TMNZ. When do imputation credits arise in my imputation credit account? 150 150 Support

Where income tax is purchased from TMNZ, imputation credits will arise on the provisional tax date on which the tax was purchased – but can only be included in the respective imputation credit account when TMNZ transfers the tax from its tax pool account to the taxpayer’s IRD account (section OB 6 and RP 19…

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When do imputation credits arise if I have financed a provisional tax payment?

When do imputation credits arise if I have financed a provisional tax payment? 150 150 Support

Tax Finance operates in a similar way to a Flexitax® transaction. When a taxpayer has Tax Finance arrangement in place for an upcoming provisional tax date, there is no imputation credit recognition until TMNZ transfers the tax (post settlement) from the TMNZ tax pool to the taxpayer’s IRD account. Click here for an example.

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I’m selling/getting a refund of tax deposited into the TMNZ tax pool account. How is the debit to my imputation credit account applied?

I’m selling/getting a refund of tax deposited into the TMNZ tax pool account. How is the debit to my imputation credit account applied? 150 150 Support

The sale or refund of tax from a tax pooling account will have a retrospective impact on a company’s ICA. It is important that you are aware of the ICA balance at the preceding 31 March. For income tax that is sold or refunded, the date of the debit to your ICA account will be:…

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How do I make transfers for a taxpayer?

How do I make transfers for a taxpayer? 150 150 Support

Using the navigational tool (located at the top of your screen) select the taxpayer for which you are looking to action transfers. From the right side of their dashboard you should see several options under ‘Quote & Transact’ including Tax Transfer. If this option does not show, the client will be a Flexi account type…

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What is the difference between a Flexi and Advantage account?

What is the difference between a Flexi and Advantage account? 150 150 Support

Flexi account – transfer my tax as I pay Flexi accounts are perfect for the everyday user of TMNZ. We will transfer funds to Inland Revenue in the same month as we receive payment automatically. Why is transferring funds automatically a good idea? Faster representation of funds at IRD. Light touch approach. Cash management benefits…

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What is a private account setting?

What is a private account setting? 150 150 Support

The private account setting protects the taxpayer account from being visible at a firm level. If an agent is connected to a taxpayer, agents with enough rights can view all taxpayers within a firm so they can oversee everyone. The private account is the exception to this supervision. It could be used by direct users…

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How do I delete a taxpayer from the dashboard?

How do I delete a taxpayer from the dashboard? 150 150 Support

On the dashboard: Select Taxpayer Accounts> Press the widget on the right hand side of the taxpayer you were looking to remove> Once the widget is pressed, you will be given 3 options> Select Remove> Once you select ‘Remove’, another tab will appear to confirm you want to remove yourself as a contact from the taxpayer> Confirm…

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How do I delete/close an open Flexitax arrangement?

How do I delete/close an open Flexitax arrangement? 150 150 Support

In the search bar the top of the dashboard, type in the taxpayer name> select the taxpayer> Scroll down to the Activity Centre> Select Ready for Payment/Processing> Find the arrangement you want to close/delete > Select the widget at the far right, next to the payment date> You will be given two options, edit or…

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How do I create/set up a Flexitax?

How do I create/set up a Flexitax? 150 150 Support

Learn how to successfully create a Flexitax on the dashboard by watching this instructional video: https://vimeo.com/442561463

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