New Zealand IRD Audits
If you have been contacted by Inland Revenue for a tax audit or investigation, we can help.
If we didn’t advise you on your New Zealand tax obligations, you might be learning that although the New Zealand tax rules sound a lot like the ones in Australia, they are in reality quite different.
New Zealand’s penalty regime is one of the most aggressive in the world. It’s designed that way to make sure you comply.
And, unfortunately, if you have been in contact with Inland Revenue you might be finding out that ignorance is no excuse.
So it’s important to remember that should you be advised you are to be the subject of a New Zealand tax investigation or audit, we are based right here in Australia to help you out.
In fact, helping Australians to do business in New Zealand is all we do.
We’ve been helping small business owners to do business in New Zealand since 1994 which makes us the most experienced small business advisors on New Zealand tax and compliance matters this side of the Tasman. And when it comes to helping Australian small business owners in the area of New Zealand tax audits and investigations, there is no one in Australia that has helped more Australians sort things out than us.
So if you have been notified of a New Zealand tax audit, or you want to check something out, it might be a good idea to give us a call on 1300 791 600.
Dealing with Penalties and Interest from a New Zealand Tax Audit
If you lost your argument and are being charged significant amounts of interest and penalties, give us a call.
If you thought you were doing the right thing or decided to play it hard, and lost, you could be facing significant penalties and interest charges going back a considerable period of time.
In fact, coming to terms with New Zealand’s penalty regime is sometimes worse than going through the tax audit itself!
You can often find you are being charged interest at rates of more than 9% per annum and coupled with shortfall penalties and the reassessed tax, this could prove debilitating.
If there is any chance of a silver lining on a very dark cloud, we might be able to provide it.
If Inland Revenue has reassessed tax and imposed interest costs, we might be able to save you up to 30% of that interest bill.
We use an IRD-approved scheme where we can access overpaid tax from other clients and retrospectively apply it against tax that has been reassessed for Income Tax and GST.
We negotiate an arrangement with those taxpayers and transfer their overpaid tax against your newly reassessed tax and date the transfer right back to the date of the reassessment. Even if that was many years ago.
That can save you a significant amount of interest.
Even more, there is no paperwork, no applications or furnishing financial statements, no need for the loan to appear on your balance sheet. It’s completely unsecured.
All you need to do is contact us as soon as you get your reassessment because we have to have a transfer in place within 60 days of the date of your reassessment. Call us on 1300 791 600 to discover how easy it is.
Questions about New Zealand Audits?
Our New Zealand expert, Mike Reddy, is a New Zealand accountant and NZ-registered tax agent based in Sydney. He works with small businesses throughout Australia to help take care of your New Zealand tax questions and Returns from our Sydney-based office.
Having been preparing and filing New Zealand tax returns since 1994, Mike is the most experienced New Zealand tax agent in Australia. He is regularly engaged by Australian tax agents and accountants who have clients with New Zealand interests.
So when it comes to looking after your New Zealand affairs, Mike can definitely help you with the right advice.
Call us now on 1300 791 600. There is no charge for a quick chat so we can talk you through the issues.