Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Inland Revenue to shut down services later this week

15 APRIL 2019

The tax system is about to close for a week as Inland Revenue implements its biggest changes in 20 years.

Online services in myIR will be unavailable from 3pm Thursday afternoon and will reopen at 8am on Friday 26 April. Inland Revenue contact centres and front counters at its offices will also be closed.

Inland Revenue Deputy Commissioner Sharon Thompson says the dates were carefully chosen to cause the least possible disruption to customers.

“Easter holidays and Anzac Day fall within this period so there are only two full business days when our services won’t be available.

“Almost 20 million tax records are going to be transferred to a new system during the shutdown so we’re closing to make sure that goes smoothly.

“When we reopen on Friday 26 April, we will have a vastly superior tax system – one that can issue automatic tax refunds and can operate closer to real time to help more New Zealanders pay the right amount of tax at the right time.”

This is the third time in the last three years that Inland Revenue has shut down the tax system to roll out part of its business transformation. The first year saw the GST system modernised. Year two moved more business taxes into myIR and brought in the Accounting Income Method option for paying provisional tax.

The third release sees individual income tax records moved to the new system. This will allow the process of automatic tax assessments to get underway along with mechanisms to make sure customers are on the right tax code and not over or under paying tax.

“No customer will be disadvantaged by our shutdown.” says Ms Thompson. “The payments of Working for Families tax credits will go out on Friday and employers filing their final Employer Monthly Schedule or doing payday filing will be able to file on April 26. Although we would encourage them to file before the shutdown if they can.

“Tax payments can still be made via internet banking and all the information on our website will remain accessible.

“There’s never an ideal time to shut down the tax system but we’re confident the changes will make any inconvenience worthwhile.

“Tax is about to become much more straightforward for salary and wage earners,” says Sharon Thompson.

Find out more about Inland Revenue’s changes at www.changingforyou.ird.govt.nz

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Industry Report: Growing Interactive Sector Wants Screen Grants

Introducing a coordinated plan that invests in emerging talent and allows interactive media to access existing screen industry programmes would create hundreds of hi-tech and creative industry jobs. More>>

ALSO:

Ground Rules: Government Moves To Protect Best Growing Land

“Continuing to grow food in the volumes and quality we have come to expect depends on the availability of land and the quality of the soil. Once productive land is built on, we can’t use it for food production, which is why we need to act now.” More>>

ALSO:

Royal Society: Calls For Overhaul Of Gene-Technology Regulations

An expert panel considering the implications of new technologies that allow much more controlled and precise ‘editing’ of genes, has concluded it’s time for an overhaul of the regulations and that there’s an urgent need for wide discussion and debate about gene editing... More>>

ALSO:

Retail: Card Spending Dips In July

Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. More>>

ALSO:

Product Stewardship: Govt Takes More Action To Reduce Waste

The Government is proposing a new way to deal with environmentally harmful products before they become waste, including plastic packing and bottles, as part of a wider plan to reduce the amount of rubbish ending up in landfills. More>>

ALSO:

Earnings Update: Fonterra Sees Up To $675m Loss On Writedowns

“While the Co-op’s FY19 underlying earnings range is within the current guidance of 10-15 cents per share, when you take into consideration these likely write-downs, we expect to make a reported loss of $590-675 million this year, which is a 37 to 42 cent loss per share." More>>

ALSO: