NZ Tax Refunds Boost For The Economy

NZ Tax Refunds

MEDIA RELEASE
Thursday 2 July 2009

NZ Tax Refunds Boost For The Economy

Thousands of New Zealand taxpayers have received their 2009 tax refunds this week, providing a timely boost to consumer spending at the start of the July quarter.

Cilla Hegarty, Managing Director of NZ Tax Refunds, says her clients will receive in total around $2.4 million in 2009 refunds from the IRD this week. NZ Tax Refunds is a specialist online tax refund company with thousands of clients around New Zealand (www.nztaxrefunds.co.nz <http://www.nztaxrefunds.co.nz>).

“The 2009 refunds will provide a very welcome sum of money for many people, as the middle of winter can be an expensive time with additional bills and expenses.

“The July school holidays also begin next week, and a boost of a few hundred dollars will be very welcome for many families.”

Tax refunds in most cases are paid directly to bank accounts.

“Between 85 and 90 per cent of our clients are due tax refunds for the 2009 year, which is a higher proportion than usual as a result of the mid-year tax cuts in October 2008,” says Cilla Hegarty.

“We have also found the average tax refund amount is higher than in previous years, between $300 and $400, also as a result of the midyear tax cuts.

“It costs nothing to check and if we find a tax refund is due, a refund can be processed within five to seven days.”

NZ Tax Refunds is also recommending people check for possible tax refunds in previous years, as the eligibility to claim a refund expires after five years.

“We provide a no-risk service for clients. Our system assesses whether an individual is eligible for a tax refund and if so we apply on their behalf, and charge a modest fee up to 19.5 per cent of the refund.

“If we find a client is likely to face a tax payment, we simply do nothing. And we don’t charge them a fee, either,” concludes Cilla Hegarty.

ENDS

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