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Kinghans Blog

Sporadic 13th March 2018

An interesting article by Tony Alexander around blind spots that may arise in your business. The article also covers his thoughts around future growth for the NZ economy as well as his opinions on whether to float or fix interest rates.

Toney Alexander Sporadic-13-March-2018.pdf

Auckland Office Moved

We are moving our Auckland Office

GST on Second Hand Goods

AIM- How Does it Work

AIM-New Provisional Tax Option

Payroll Changes

Tax Pooling

Tax Pooling

Estimating your provisional tax can be difficult: pay too little and you will be hit with UOMI and other penalties; pay too much and valuable working capital is locked up at the IRD earning a minimal return.

The solution is to deposit your provisional tax payments into the tax pool held at Inland Revenue to reduce your exposure to UOMI and increase your return on overpayment.

  • Underpaid?
    Save up to 30% on your UOMI bill by buying the tax you need from the tax pool instead of paying Inland Revenue UOMI.
  • Overpaid?
    Increase your return on overpayment by selling excess tax for up to double what Inland Revenue will pay you in UOMI.
  • Cashflow tight?
    Treat your tax payments as a pre-approved overdraft facility - the funds can be withdrawn and financed at competitive rates at any time.
  • Tax on the right dates?
    Swap excess tax payments for tax on a later or earlier date you require and maximise your return.
  • Estimated correctly?
      tax pooling solutions will transfer your tax payments from the pool to your taxpayer account at Inland Revenue at no charge.

An additional benefit of using  tax pooling solutions is that if you have an amount of income tax to pay for a prior year due to a reassessment by Inland Revenue, you can purchase back dated tax from tax pooling solutions at interest rates that are up to 30% cheaper than Inland Revenue's UOMI rate. By purchasing back dated tax on the correct payment date, Inland Revenue will not charge you UOMI. This can be used for most tax types, not just income tax.

Depositing into the tax pool is free and you'll never pay more than if you had paid directly to the Inland Revenue. Don't pass up this opportunity to improve your bottom line.

Talk to us about this.

New Options to pay provisional tax from March 2018

Changes to Tertiary Funding

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Auckland Office 

13th Floor
92  Albert Street
Auckland CBD, 1010

Phone: (+64) 09 575 9873
Fax: (+64) 09 575 9863


Northland Office

2 Broadview Road
Off SH11

Phone: (+64) 09 402 5133
Fax: (+64) 09 575 9863