CHARTERED ACCOUNTANT'S NEWS & VIEWS

​Provisional tax notices for the provisional tax due on the 15th January 2019 have now been emailed and posted out to all clients who have provisional tax to pay due to be paid on the 15th January 2019.  If you have not received a provisional tax notice (please check that this has not ended up in your spam or junk mail box) and you were expecting to pay provisional tax please contact us as soon as possible and we can confirm if you have any provisional tax to pay. 
 
Likewise if you are unable to meet your income tax, PAYE or GST payments by the due date please contact us as soon as possible as there are some options that can be looked at depending upon your circumstances.

For the 2018 income year and onwards, the thresholds around Use of Money Interest being calculated on Provisional Tax instalments has increased to a standard $60,000 Residual Income Tax (RIT) for both Individual and Non-Individuals. Use of money interest will generally be calculated on instalment amounts that have not been met by the due date.

If at any stage you require assistance in meeting tax obligations, we can assist with making a tax arrangement with Inland Revenue or use ‘Tax Pooling’, whereby you can purchase tax payments and these can be back dated to offset against a prior instalment date to minimise or offset penalties/interest.
​
If you are in any doubt surrounding these changes or any tax matter you may have, again we encourage you to contact the office to discuss any issue you may have.