1. Knowledge
  2. Tax Pooling 101

Which tax types can I purchase tax for?

Several tax types can be purchased through our tax pooling service.

1. Income Tax

Income tax is the only tax type that can be purchased for an initial assessment. Taxpayers have up to 75 days after terminal tax date for a given income year to purchase tax through tax pooling.

If it is not the taxpayer’s first assessment from Inland Revenue for that income year and Inland Revenue has issued a reassessment (following an audit, notice of proposed adjustment or voluntary disclosure), the taxpayer will have 60 days from the date of notice of reassessment to use tax pooling.

If a taxpayer is late filing their initial income tax return, Inland Revenue may still allow them to use our service if it is evident the taxpayer believed they had no tax to pay at the time. Please contact us if your client would like to seek such approval from Inland Revenue.

With Tax Traders, there is no minimum limit on how much tax can be purchased.

2. GST, FBT, RWT, PAYE, NRWT, ESCT and RSCT

Taxpayers can use our service to purchase GST, DWT, RWT, NRWT, PAYE, FBT, ESCT and RSCT for reassessments. Purchases and transfers must be completed within 60 days of the date of issue of the reassessment. Our online tools will guide you through this.

If a taxpayer has not paid their initial assessment, they must get approval from Inland Revenue to purchase the tax through a tax pool.

Please contact us if your client would like to seek approval from Inland Revenue.

 

Note: We can not use tax pooling to help with Working For Families, as it is not considered a tax, it is a social policy administered by Inland Revenue.