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Early payment income tax discount

A 6.7% discount of tax is available to encourage individuals who begin receiving self-employed or partnership income to pay tax voluntarily in the year before they begin paying provisional tax. This will relieve the financial strain they face when they begin paying provisional tax and have two years' worth of tax payments to make, namely, income tax for the prior year and provisional tax for the current year.

For full details please click below;

http://www.ird.govt.nz/technical-tax/legislation/2005/2005-111/2005-111-policy-issues/pi-early-payment-discount/