Taxation Planning

Profit Watch

Profit Watch is a service we offer our clients that want to stay on top of their tax position as they progress during the year. Our staff will monitor your business progress either monthly, 2 monthly or 3 monthly basis and calculate your tax position so that you pay provisional tax based on actual performance of your business rather than estimates.

Tax Management New Zealand

Withers Tsang have a working relationship with Tax Management New Zealand Limited (TMNZ). TMNZ is New Zealand's first tax payment intermediary, approved by Inland Revenue, allowing taxpayers to manage provisional tax and reduce their exposure to use-of-money interest and potential penalties.

TMNZ has been in business since April 2003 when Inland Revenue changed the tax rules to allow tax payment intermediaries to effectively sell overpayments of provisional tax to taxpayers who have underpaid.

TMNZ offer Tax payers to either purchase tax credits in previous date or finance current years provisional tax commitments, both freeing up cashflow and saving UOMI and potential penalties.

At Withers Tsang we have used the services offered by TMNZ as an extension of our tax planning services, to assist our clients in managing their tax affairs, especially in circumstances where they:

• Have not paid enough provisional tax
• Have terminal tax to pay
• Have a tax audit to settle
• Have a voluntary disclosure to make
• Don't have enough credits in their imputation account

For more information, please contact us at reception@wt.co.nz or 09 376 8860.