Deadline for 2023 tax transfers to IRD
If you still have tax to purchase for the 2023 income tax year contact us now to discuss the available options.
19 June 2024 is the last date to purchase 2023 financial year tax for provisional taxpayers with a valid Extension of Time (EoT) and a balance date between 31 March and 30 September. This will ensure funds are transferred to IRD before the legislative tax pooling deadline date.
Transfers of purchased and financed tax for taxpayers with a balance date between 31 March and 30 September with a valid EoT must be made before 24 June 2024.
Tips for success - 2023 transfer deadline
Ensure that all income tax returns for prior years have been filed before submitting your transfer request.
Confirm the amount of tax outstanding - you can only transfer amounts that are less than or equal to the remaining tax liability.
Check that you have enough tax in the tax pool - if you still need to purchase 2023 tax please contact the Tax Pooling Solutions team as soon as possible.
- If you have excess funds in the pool that aren’t required for the 2023 income tax year you can swap these balances forward to earn some interest.
- If you cannot pay by 19 June, please contact us to discuss possible solutions.
The next uncoming provisional tax date is 1 July 2024.
Provisional taxpayers with the below balance dates may have a tax instalment due on 1 July 2024:
- Taxpayers with a 31 January balance date will generally have their first provisional tax instalment due for the 2025 tax year.
- Taxpayers with a 30 September balance date will generally have their second provisional tax instalment due for the 2024 tax year.
- Taxpayers with a 31 May balance date will generally have their third provisional tax instalment due for the 2024 tax year.
Other important dates for your calendar
Provisional taxpayers with a 31 October, 28 February, or 30 June balance date will generally have a tax instalment due on 29 July 2024.
Now is a great time to get in touch with us to discuss financing options for this instalment.
