Tax Pooling
Questions relating to tax pooling
Questions:
- How long does it take for TPS to confirm a Buy Tax or
Sell Tax Request?
TPS is able to confirm most requests almost immediately.
- Can buying tax eliminate a late payment
penalty?
In most cases, yes. So long as you purchase the tax you
need and transfer it to your taxpayer account within 60 days
of your terminal tax date, we can eliminate all late payment
penalties.
- How do I transfer my tax deposits from TPS' tax
pooling account to my taxpayer account at the IRD?
When you have completed your tax return and know how your
residual income tax for the financial year, give us a call or email
us and at our request Public Trust will instruct the IRD to
transfer your tax deposits from the pool into your taxpayer account
at the IRD. If you have underpaid or overpaid your
provisional tax, we can also help you sell your overpayment at a
profit or buy additional tax.
- How long before tax I have purchased is transferred to
my account at the IRD?
Transfers are usually completed by the IRD within two weeks of
payment of the purchase price. Transfers of tax deposits will
be shown on your online statement of tax balances.
Back to main FAQ page
Was you question answered?
If you couldn't find and answer to your questions you can submit
it to us via our contact form.
Contact Us