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Taxation Planning

 

Accounting Tasman Ltd is able to offer you a full range of tax planning services.

   Provisional Tax
We can monitor your income and expenditure throughout the year and advise whether your provisional tax based on the previous year needs to be adjusted.

  Interim Accounts
We are able to prepare interim financial statements if you require additional lending from the bank.

   Structures
We can advise you of the most efficient business structure to minimise the amount of tax payable.

   Inland Revenue Department Audits
We can assist with any tax audits or disputes that may arise.

  Tax Payments
We monitor your tax payments and send out reminder notices for terminal tax, and provisional tax payments due through out the year.

  Income Equalisation Scheme
Farming, and forestry clients who have fluctuating incomes can even out their taxation payments by depositing funds into the Income Equalisation Scheme.  This is managed by Inland Revenue Department and deposits can be made which will reduce your income in a particular year.  This can be uplifted in a future year where your income may be at a lower level and therefore, taxation will also be at a reduced level.

Forestry owners who have logged trees in a specific year have the option of spreading income back over a three year period, thereby evening out the income over three years, which reduces the amount of tax payable.

  Tax Management of NZ Ltd (TMNZ)
TMNZ is a tax payment intermediary approve by the Inland Revenue Department.  It allows taxpayers to manage their provisional tax and reduce the use of money interest and penalties that may be due, from under-payment of tax.

This is useful if clients have

  1. Terminal tax to pay.
  2. Have made a voluntary disclosure and there is additional tax to pay
  3. Under paid provisional tax.
  4. Have had a tax audit and payment of additional tax is required back to prior years.

 

 

 

 

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CHARTERED ACCOUNTANTS
Richmond, Nelson.