tax refund tagged posts
July 6, 2015 New Zealand Taxation
The IRD has issued almost NZD 50 million mre in tax refunds this year compared to last year.
Last week the Inland revenue Department issued a new statement providing details on the increasing number of taxpayers who are opting to use the IRD’s online services, and, subsequently, leading to a greater number of tax returns being issued.
As at June 28th the Inland Revenue Department issued 89 550 more tax refunds for the 2015 season, compared to the number of refunds issued during the same period in 2014.
The increased number of refunds accounts for NZD 49 077 610 in refunds being paid out.
The IRD has attributed the rising number of applicants for tax refunds down to a new awareness and education campaign.
The advertising has had a disproportionately positive effect, as the production of...Read More
October 5, 2009 New Zealand Taxation
Prompted by an influx of donations for the Samoa tsunami relief, the IRD has reiterated their policy regarding donations.
Robert Russell, Commissioner of Inland Revenue, has made statements reminding those making donations to tsunami stricken Samoa that they could be eligible for a tax refund. Robert Russell believes that many of those who are making donations are unaware that they are able to claim a refund on their donation.
Further, it was emphasized that there is no longer an upper limit on the amount that can be claimed back from a tax donation. As long as the donation is lower than the individual’s annual taxable income and above $5, they would be able to claim a third of the amount donated, if receipts are kept.
The complete list of refundable charities can be attained from the I...Read More
August 31, 2009 New Zealand Taxation
The Inland Revenue Department has upgraded their online systems, allowing for online tax summaries confirmation and quicker tax refunds.
The Inland Revenue Department (IRD) has completed an overhaul on their available online services, expanding the range of services provided and decreasing tax refund wait time.
The IRD has previously mandated that any tax refunds due that were valued at over NZ$200 would require confirmation over the phone. This task can now be completed online, along with assigning bank accounts for the refunds. According to the IRD, the 2008 business year saw over one million letters sent out for personal tax refunds. Their online innovation is aimed directly at reducing redundancy within this cycle.
Commenting on the change, Charles Ronaldson, Inland Revenue Group Manag...Read More
March 20, 2009 New Zealand Taxation
New Zealand Prime Minister John Key has suggested that if people are in a position to, that they donate their upcoming tax cuts to charity.
In an effort to foster what he calls an “American giving culture”, Prime Minister John Key has said that those who could not bring themselves to spend the new tax cuts, or are otherwise unlikely to need it survive, should consider donating it to charity. He also pointed to a figure claiming that almost 60% of those donating in any given year are likely to not know about the tax rebate that they are automatically entitled to.
While at the moment only a third of what you donate to charity can be claimed as a tax rebate, there have been other suggestions surfacing in regards to possible new rebates...Read More