OFFICE
CLOSURE
The
Office will be closed from Friday 27/11/2015- reopen Monday
14/12/2015.
REMINDER-
OUTSTANDING TAX RETURN FILING
Some
clients have not yet contacted ourselves to advise they have their
information prepared and to make an appointment for their 2015 Income Tax
Returns. In lieu of the above office closure date, it is recommended
that you do so quickly to get these actioned before Xmas.
IRD
AUDITS
IRD audit businesses to check if people are paying the
correct amount of tax. The audit can cover income tax, GST and Employer
Returns. After an audit you may be entitled to a refund or have tax to pay.
The different types of audits IRD do, how IRD select you
for an audit and what it will involve.
Your rights (what you can expect from IRD) and what IRD
require from you during an audit.
After the audit IRD willl send you notices of Assessment
and Statements showing if there is a refund or if there is tax to pay, and
when it is due. The Assessment will be issued after an agreed adjustment or
Notice of Proposed Adjustment (NOPA) has been worked out.
MAKING
PAYMENTS TO IRD
You can pay your Tax, Child Support or KiwiSaver
contributions electronically or by post.
You can pay electronically by credit or debit card,
internet banking, automatic payment or direct credit.
Find out how to make payments to IRD by post both from
here and overseas.
You can check that payments have been credited to your
account online or through IRD's self-service line.
You can pay IRD while you're overseas using a credit or
debit card, telegraph transfer, foreign bank draft, personal foreign
cheque, foreign postal order or money order.
You can pay your Child Support payments by credit or
debit card, automatic deductions from your benefit, online payments,
automatic payments or by posting a cheque.
MANAGING
FINANCIAL DIFFICULTY AND DEBT
If you think you’ll have difficulty meeting any of your
tax obligations, contact IRD to discuss your situation. Penalties may apply
if you don’t pay on time.
If an Income Tax Return is due for filing and you have
not yet done so, IRD will estimate the amount of tax they think you owe.
This is called a "Default Assessment". You may also be charged a
late filing penalty. It is important that you file the overdue Return so
that your correct tax position can be confirmed. You may even be entitled
to a refund.
If you have an amount due or already overdue and need
more time to pay, then you may be able to negotiate an instalment
arrangement. You can do this online. If you're unable to pay anything
towards the amount due then contact IRD as soon as possible. You don't
have to wait until the due date for payment has passed.
Find out what your options are if you’re having
difficulty making repayments.
The best way to avoid debt is to pay the full amount you
owe, on time, every month. But if you get behind in your payments or think
you are going to have trouble paying on time, contact IRD.
If you know that you will not be able to pay your tax on
time or if you currently have an amount outstanding, there are a number of
options available to you. Also learn about the penalties and interest that
may apply for failing to meet tax obligations.
