With Inland Revenue no longer accepting cheques, more taxpayers are moving to online banking to pay their tax bills – and this has been a learning curve for many.
Paying your taxes to the
right IR tax type is extremely important. If you get it wrong, it can result in incorrect tax refunds or interest and penalties being charged. And no one wants to pay more tax!
Your Moore Markhams advisor should advise you in writing which tax type to use for paying your taxes online. You’ll find this in the provisional or terminal tax notices being emailed or posted to you.
What type of Inland Revenue payments can you make?
The most common taxes and their tax types for online payment are:
| Everyday individual payments or taxes |
Tax Type |
Everyday business payments or taxes |
Tax Type |
| Income Tax or Provisional Tax |
INC |
Employer Deductions |
DED |
| Kiwisaver member account |
KSS |
Goods and Services Tax |
GST |
| Student Loan – Borrower |
SLS |
Income Tax or Provisional Tax |
INC |
| Child Support – Liable Parent |
NCP |
GST and Provisional Tax |
GAP |
| |
|
Employment Activities |
EMP |
| |
|
Fringe Benefit Tax |
FBT |
| |
|
Intermediary Employee Deductions |
IED |
If you are unsure of which tax type to use – please contact your Moore Markhams advisor before making payment.
What details will you need?
To pay IR via internet banking you’ll need:
- The amount to be paid
- Your IRD number
- The correct tax type
- The period covered by the payment, if applicable
- The payment date (date you are making the payment on)
How to pay IR with internet banking
Most banks have instructions on their websites to show you how to make an IR payment with internet banking. Here are links to some of the larger banks. If your bank is not listed below, we suggest you contact your bank to ask for assistance.
Other ways to pay
For other ways to make payments to IR visit:
https://www.ird.govt.nz/managing-my-tax/make-a-payment/ways-of-paying