REMINDER
- INCOME TAX RETURNS OUTSTANDING FOR FILING
There
are still a number of clients who have not contacted TotalAccounting for an
appointment to provide and review their year ending 31 March
2015 Financial Documentation to enable compilation of Financial
Statements and filing of Income Tax Returns with IRD. You are reminded
that you are leaving it very late, as Returns are due to be filed with IRD
in March 2016, assuming you still have extension of time, and depending on
your activity during the year you may be liable for Income Tax to pay in
April 2016. The workload over those next 2 months for TotalAccounting
is very busy, and it is suggested that you make contact sooner rather than
later.
MANAGING
IRD 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.
Overdue
Income Tax Returns
If you are due to file an IncomeTax Return and you have not yet
done so on the due date, 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 are having difficulties meeting your obligations
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 with
IRD. 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.
Student
Loan Borrowers
Find out what your options are if you’re having difficulty making
repayments.
Child
Support Liable Parents
The best way to avoid IRD 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, it is suggested that you contact
IRD.
Penalties
and Interest
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.
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.
About
Audits
The different types of audits IRD do, how IRD select you for an audit
and what it will involve.
How
IRD will work with you
Your rights (what you can expect from IRD) and what IRD require from
you during an audit.
After
an Audit
After the audit IRD will 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.
IRD
SCAM ALERTS
The most common methods used by fraudsters to collect someone's personal
information are email and phone scams. These include phoning and claiming
to be from IRD, or sending an email that appears to come from IRD or a Tax
Refund agency.
Are You a Victim of Identity Theft?
If you have fallen for a scam, given
away personal information or suspect your identity has been stolen
relating to IRD, please see IRD's "Victim
Support" page.
Find
out more about how to protect your identity
Learn
about about Phishing and other Scams
Reporting Scams
IRD investigate and take action on reports of phishing and new attempts
will be posted to the IRD website.
If you receive a suspicious email, SMS scam
message or a fraudulent call email phishing@ird.govt.nz
and include:
- the email received, or
- the number that the text message or phone number (CallerID)
originated from
- any names and call-back numbers given by the text sender or phone
caller
- details about the scam including:
- the amount of tax refund quoted
- the reference number
- the information requested, and
- any other relevant information.
Scams targeting Taxpayers
More and more phishing scams are appearing with the IRD logo on them.
These are to fool people into believing they are genuine and that you are
eligible for a tax refund.
Note
IRD will never advise you that you are due a tax refund through
email.
