Posted By

Tags

It is never too late to be up-to-date

Have you missed the deadline for paying your end-of-year income tax, Working for Families Tax Credits or student loan bill?

It is not too late to pay your overdue bill. The sooner you pay your debt, the less penalties and interest you will be charged; so act now!

For all New Zealanders with an end-of-year income tax, Working for Families Tax Credit or Student Loan payment to make for the last tax year, payment is due by February 7 (unless you have an extension of time through a tax agent).

It is easy to make a payment by credit or debit card, internet banking, cheque or at any Westpac branch.

You may also have a tax bill as a self-employed person.

It is possible that you did not pay provisional tax (instalments of income tax during the year) or the provisional tax paid was not sufficient. It is also possible that your profit was higher than anticipated.

If you have a student loan, you might have a bill if you did not make student loan repayments from your self-employed earnings.

Recipients of Working for Families Tax Credits may receive an overpayment (which needs to be repaid) if they underestimated their annual income, and/or did not let us know about changes to their income or family circumstances.

Sorting the issues

How can you sort out your bill?

Please contact us on 0800 377 774 to discuss your situation.

You may qualify for an instalment arrangement that allows you to repay your taxes over a period of time.

An arrangement can save you money. You will not be charged any incremental (monthly) penalties if you keep to the terms of the arrangement.

Together we can develop a plan that, as far as possible, will take into account your individual circumstances.

Some people are reluctant to contact us if they feel their debt has gone out of hand. You do not have to battle on your own.

No matter the size of the debt, we will do everything we can to help you get back on track.

Free workshops

If you are in business, you may like to attend one of our free tax seminars or workshops held in various parts of the country.

Visit www.ird.govt.nz and enter the search term ‘Seminars.’

Abdul Rafik is Inland Revenue’s Community Relationships Advisor based in Auckland. He will answer your queries emailed to venkat@indiannewslink.co.nz

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Share this story

Related Stories

Indian Newslink

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide

Advertisement

Previous slide
Next slide