Tax pooling solutions

As leaders in tax pooling, we will deliver the best outcomes to suit your unique needs. Whether you’re a large multinational, a medium size business, or a sole trader - we have a solution to fix all your income tax payment problems.

How we can help

Tax Pooling Solutions can save you use of money interest (UOMI) and late payment penalties  charged by Inland Revenue on underpayments of provisional tax and increase returns on overpayments of provisional tax. 

We assist businesses with variable cashflow get access to additional funding arrangements.  Tax Pooling Solutions can also finance your provisional tax payments at very competitive interest rates with no security or guarantees required.

Pay upcoming tax

Short on cash for upcoming tax payments or want an alternative source of funding?

Defer upcoming provisional tax payments and choose your repayment options. You choose how much you pay and when you pay.

  • Tax financing is simple to organise with no security required
  • Setting up a tax finance arrangement is often cheaper than purchasing it later
  • Simply pay the interest upfront and choose a maturity date up to 21 months in the future
  • You can retain your cash to grow your business and focus on what is important

     

Did you miss or underpay a tax payment?

Buy missed or underpaid tax payments with Tax Pooling Solutions. If you have missed or underpaid a tax payment you can use Tax Pooling Solutions to buy this back dated tax. Purchasing tax from the tax pool will help save up to 30% use of money interest and 100% on late payment penalties. Purchased tax needs to be transferred to IRD within 75 days of your terminal tax due date.

Only income tax can be purchased to satisfy a tax liability for an initial assessment (ie a current year). Tax can be purchased for other tax types only if it is to satisfy a reassessment where an original return was filed and paid (see below under reassessments). 

Benefits:
  • Save approximately 30% over IRD use-of-money interest
  • No minimum purchase amount
  • Eliminate late payment penalties and use-of-money interest charges
  • Flexible payment options to suit you or your client’s cash flow and business priorities
  • Transactions processed regularly, so you don’t experience a long wait

IRD reassessments and voluntary disclosures

Inland Revenue allows taxpayers to use a tax pool to satisfy tax payable (Income Tax, GST, FBT, RWT, PAYE) from audits and voluntary disclosures within certain criteria. Through the pool, a taxpayer can purchase historical tax payments for tax period – saving more than 30% over the cost of use-of-money interest incurred if settled directly with IRD.

You can settle reassessments of any tax type. When you know the result of a reassessment you can choose to buy back dated tax to cover the increased reassessment liability and reduce your interest costs. You have up to 60 days from the date the reassessment is issued to settle any reassessment using tax pooling.

  • Save more than 30% of the use-of-money interest cost compared to settling the liability directly with IRD
  • Can be a helpful cost or risk mitigation strategy as you work through the audit process
  • Contact us to learn more

IRD payment plans

Are you currently on a plan with the IRD ?

IRD payment plans usually continue to accrue use of money interest. Use Tax Pooling Solutions to finance future provisional tax instalments and use available cash to reduce the IRD payment arrangement - saving overall interest costs.

Get in touch with one of our team to discuss your options today.

EasyTax Purchase

Income tax payments now made easier, with EasyTax you have full control on your income tax repayments. EasyTax provides you the flexibility to pay your income tax when it suits you, Pay what you can, when you can.

Setup EasyTax arrangement with PwC Tax Pooling Solutions in three simple steps

  1. Select Tax Amount
  2. Choose your start and end date
  3. Submit request

EasyTax arrangements are fully transparent with full visibility on the total interest costs before you set up an arrangement. Giving you a fair and transparent way of keeping on top of your income tax obligations.

Now you don't have to rely on fixed payment dates for provisional tax dates, with EasyTax you have full control on your provisional tax repayments. Quick and easy repayment plans that suit your cash flow.

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Buy

Save up to 30% on use of money interest charges with IRD. Buying tax is simple and easy with Tax Pooling Solutions. Purchasing tax puts a stop to the use of money interest and helps get the correct amount of tax on the right date. Tax purchases can be completed for current and open tax years and need to be transferred to your IRD account within 75 days of terminal tax due date.

Sell

Sell overpaid tax with Tax Pooling Solutions allowing you to get better terms than IRD in most cases. Excess tax in the pool is easy to get refunded, subject to providing information to meet our Anti-Money Laundering obligations. No need to wait until the returns are finalised.

Deposit

If you are unsure about your liability, use the tax pool to deposit your provisional tax payments. Deposit tax in the pool to satisfy future tax obligations.

Tax pooling solutions benefits


  • Save on UOMI by buying tax from the TPS tax pool
  • Sell tax to increase your return on overpayments
  • Ease cash flow
  • Payments into the TPS tax pool can be refunded at any time - no need to wait until your tax is filed
  • Multiple payment options.

  • Free registration; no membership fees
  • No minimum deposit size
  • IRD approved tax pooling intermediary 
  • Your tax payments are held at the IRD on your behalf by Public Trust
  • Solutions focused with ability to tap-in to a wealth of internal resources
  • Powered by some of the best advisers in the industry.

  • Register online

  • Use our calculators to estimate your savings

  • Follow the instructions to deposit your tax payments or buy and sell tax

  • Call us if you need assistance.


How to use tax pooling?

Tax pooling assists businesses with variable cash flow to get access and save interest on underpaid provisional tax, end-of-year tax and from reassessments of tax. 

Interest rates are lower than borrowing from institutions and don't require the high level of security that many do. It's all about making your business run smoother.

How does tax pooling work?

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Why Finance Tax?

Lower Borrowing Cost

In most cases, the interest rate charged by  TPS is significantly lower than that charged under business banking facilities.

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Free Up Cash Flow

Provides you with an alternative means of financing.

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Settle Tax On Your Terms

Is your cashflow lumpy or seasonal? TPS lets you settle your tax when you want. If you don’t quite get the timing right, roll the finance – only paying interest to the next maturity.

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Sell Over-Financed Amounts

If you finance more than you need then we sell the excess and transfer a cash interest return to you without needing to settle the excess principal amount.

Public Trust protects your interests by holding all payments and tax deposits and authorising all transfers.

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Contact us

Matt Rama

Matt Rama

Executive Director, PwC New Zealand

Tel: +64 21 984 929

Jonathan Gray

Manager, PwC New Zealand

Tel: +64 21 025 58679

Piyush Makan

Manager, PwC New Zealand

Tel: +64 21 262 0021

General Enquiries

Tax Pooling Team, PwC New Zealand

Tel: +64 9 9488833

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