With the change to individual tax rates from 1 April 2009 the higher FBT rate of 64% has reduced to 61% (the 49% rate stays as is).
New tax rates for individuals came into effect from 1 April 2009. The top tax rate is now 38% for income over $70,000 down from 39% previously.
Listed below are Provisional Tax, Terminal Tax and GST payment dates, as well as tax return filing dates for 31 March balance date clients during the 2013 financial year. To make it easier to find dates particular to your requirements we have colour coded some of these as follows: * Monthly * 2 Monthly * 6 Monthly…Details
If you are a provisional tax payer you are required to pay instalments of tax throughout the year. You are, or become, a provisional taxpayer if your residual income tax for the previous year exceeds $2,500.
If you’ve underpaid your provisional tax with the result that the IRD is charging you use-of-money-interest (UOMI), tax pooling may be a way to save you money. Tax pooling was approved by the IRD in 2003 and allows taxpayers to pool tax payments, offsetting tax underpayments against tax overpayments within the same pool, thereby reducing…Details
If you are registered for GST this will determine when provisional tax payments are required to be paid. If you have a standard 31 March balance date and pay GST six monthly you pay provisional tax by 28 October and 7 May (ie two instalments). If you have a standard 31 March balance date and…Details