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3% Reduction on Terminal Tax


Press Statement

3% Reduction on Terminal Tax

Businesses with terminal tax to pay on April can save 3% by paying their tax through Tax Management New Zealand.

For example a business that had $50,000 terminal tax to pay plus Inland Revenue interest of 11.93% from 1 April 2003 would save $1,529.

Tax Management New Zealand Ltd (TMNZ) is the first Inland Revenue approved tax pooling company established to help taxpayers reduce Inland Revenue use of money interest costs.

TMNZ uses tax overpaid by its member companies to assist companies who have under paid. All payments are made through New Zealand Guardian Trust.

ENDS.

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