Arrange breathing space to pay your provisional tax when it suits you, not when the IRD demands it.
Pay My Tax makes it possible to shift the payment dates for provisional tax to a time that better suits the taxpayer’s business – and avoid paying the IRD’s interest or penalties.
By leaving cash in the business for up to 12 months, businesses can pay for the things they really need to do.
The Pay My Tax app also helps avoid the high cost of borrowing to pay for provisional tax. Delaying your tax payment through Pay My Tax is much cheaper than paying your tax using a traditional business overdraft facility – and it’s tax deductible.
As most business people know, it’s often difficult to predict what your final payment will be – especially for those who work in volatile markets or seasonal industries. With the Pay My Tax app, if you don’t need the tax in the end, just don’t pay it. You can avoid the costs of overpaying and having to request a refund well after your year end.
We work with the New Zealand Guardian Trust and IRD to keep the tax as security – which is why there are no credit checks or approval processes required.
Pay My Tax is powered by Tax Management New Zealand (TMNZ). TMNZ is an approved IRD intermediary, helping New Zealanders manage their tax payments since 2003.