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3 Ways to pay off 2013 tax arrears

Any clients will have the money now and are happy to pay their outstanding tax but for those that don’t The New Zealand Tax Trading Company is now offering instalment and deferred settlement arrangements:

  • Installments: For 2013 The New Zealand Tax Trading Company can convert your tax purchase requirements into monthly installments with the final installment due no later than 74 days after the terminal tax date. You will save on interest, eliminate late payment penalties and ensure your terminal tax is taken care of. Contact The New Zealand Tax Trading Company for more information or to make a request. Acceptance is guaranteed.
  • Deferred settlement: This is like financing your 2013 payments. You can secure the tax now and nominate a future date for payment provided that date is no later than 74 days after your terminal tax date. Contact The New Zealand Tax Trading Company for more information or to make a request. Acceptance is guaranteed.

When is it worthwhile using a tax pool?

The table below shows you approximately how much you can save on outstanding provisional tax based on the number of months overdue and the amount outstanding. The table shows interest savings only. A copy of this table can be downloaded here.

If you are not sure if this is an option for you give Monteck Carter a call and we can give you some advice.