5 February 2020 Webinar Slides with speaker notes Kia ora, Koutou, - - PDF document

IN CONFIDENCE 5 February 2020 Webinar Slides with speaker notes Kia ora, Koutou, Ko Kahungunu toku iwi No Heretaunga ahau Ko Korongota, Omahu toku nga marae Ko Rata Kamau toku ingoa Good afternoon everyone, and welcome to the latest webinar from Inland Revenue. My name is Rhys and joining me today is Aroha

• Paranihi. We are Community Compliance

Officers at Inland Revenue. Rhys and Aroha to personalise Today’s webinar is all about Inland Revenue’s next round of improvements as part of our transformation programme. These improvements will be implemented from April 2020 and designed to make tax easier and more certain and provide better services for you. Just a note to point out that the changes we will go through are subject to change and may change prior to April 2020. Any changes will be reflected in following webinars we do. Before we start, let’s go over a few housekeeping notes. I’d like to run through what you should be seeing on your screen, and how to interact with us. In addition to the presentation slides on your screen you’ll see a small control panel at the bottom of your screen that contains a few

• buttons. When you click on each of these

buttons, you’ll see they either open or close some of the features which may already be

• pen on your screen.
• On the left of your screen you’ll see the

slides box on which we’ll display the presentation slides during the session.

• You should also see a Q&A box on your
• screen. By clicking in this box –in the

“enter your question” section, you can send through questions during the

IN CONFIDENCE

• session. You are welcome to send us

questions at any time during the

• presentation. Other participants won’t

be able to see your question, but they will come through to us.

• At the end of the presentation, we’ll

have some time to work through as many of your questions as we can. We may not get through all the questions however just as we have in the past, we will collate all questions, get them answered and send them out to all participants via email.

• The speaker bio section which may

also be open on your screen, provides more information about your presenters

• r in this case, it will tell you a bit more

about me. If for any reason you get disconnected or if you are unable to stay for the whole session, the webinar will be available on demand via our

• website. You will also receive a link to the on-

demand session once it’s available, following the webinar. Let’s first look at which organisations are eligible to become Māori authorities. Te Ture Whenua Māori Act 1993

• Companies (see the act legislation)
• The trustees of a trust (see the act

legislation)

• A company that owns land (see the act

legislation)

• The trustees of a trust who own land

(see the act legislation)

• The Māori Trustee in the Māori Trustee

capacity as an agent for an owner of land (see the act legislation) The Māori Trust Boards Act 1955

• A Māori Trust Board (see the act

legislation) Crown Forest Assets Act 1989

• The Crown Forestry Rental Trust (see

the act legislation) Māori Fisheries Act 2004

• Te Ohu Kai Moana Trustee Limited,

established in accordance with section 33 of the Māori Fisheries Act 2004.

• Aotearoa Fisheries Limited, established

in accordance with section 60 of the Māori Fisheries Act 2004

• A company that is established by a

mandated iwi organisation to be an asset- holding company (see the act legislation) or recognised by the Te Ohu Kai Moana Trustee Limited as a

IN CONFIDENCE mandated iwi organisation (see the act legislation)

• The trustees of a trust that is recognised

by the Te Ohu Kai Moana Trustee Limited as a mandated iwi organisation (see the act legislation)

• The trustees of the trusts that are

established by the Te Ohu Kai Moana Trustee Limited in accordance with sections 79 and 92 (see the act legislation). Treaty of Waitangi

• A company that on behalf of Māori

claimants, receives and manages assets that are transferred by the Crown as part of the settlement of a claim or is contemplated by the deed of settlement

• f the claim as performing the functions

referred to in subparagraph

• The trustees of a trust who on behalf of

Māori claimants, receive and manage assets that are transferred by the Crown as part of the settlement of a claim or are contemplated by the deed of settlement of the claim (see the act legislation) Māori authorities making taxable distributions to members must provide information to us more regularly under the Taxation Act. The information payers need to provide is defined in section 25D. Some year-end certificates will no longer be required. Here you can see what information will be needed during the year, when it should be provided and what the implications are. Some

• f these are new requirements and this

information must be provided from 1 April 2020. The reporting requirements are the same, regardless of the legal structure of the Māori authority, e.g. even if the authority acts as a trust. For those of you who may not be aware, most Inland Revenue offices have a Kaitakawaenga Māori who can assist Māori organisations and individuals with their business tax responsibilities. Our advisors will tell you:

• which taxes you need to know about
• what records you need to keep
• how to complete your tax returns (for

example, GST and employer returns), and

• when to file returns and make

payments.

IN CONFIDENCE If you do need assistance I would encourage you to use their services. Information on how you can make contact with them is at the end

• f this presentation.

Before we move on to the upcoming tax changes, I’d like to do a recap of our transformation and why are we making these changes. Our transformation aims to simplify the way we work with customers and deliver services. It includes improvements to policy and legislation, as well as upgrading an ageing computer system. By modernising and simplifying tax administration for everyone, whether you have a business or are a salary & wage earner, we aim to:

• build a revenue system that is

fair and supports high levels of compliance;

• ensures payment requirements

are easy to get right and hard to get wrong;

• Ensures compliance obligations

are quick and low effort for individuals; and

• ensures processes are more

certain and provide confidence that the right thing has been done. Ultimately, we want to reduce tax administration costs and lower the overall compliance costs. Your expectations on the services we provide and deliver to you have changed and we need to change to meet these new expectations. For those who haven’t seen this slide before

• ur transformation planning started at the end
• f 2015 and after three releases we’re starting

to realise some of the benefits. We’re taking a phased approach with major releases occurring every year from 2017 to 2021, each one aligning with the beginning of the tax year in

• April. This is now well underway, with the first

three releases having been implemented. Because we don’t have much time today, I will leave you to read these changes in your own

• time. A reminder for those who haven’t already

done so, this pack can be downloaded from our website where you registered for this webinar.

IN CONFIDENCE It’s worth noting that the most recent set of changes implemented in April last year were the biggest changes introduced yet, and had a significant impact on many of you, due to the introduction of new legislation, systems and a new website. Some of the larger changes were:

• Payday filing became mandatory and

the PAYE electronic filing threshold was reduced,

• We introduced new reporting

requirements for employment and investment income information,

• We introduced a new, automatic year-

end process

• Income tax and Working for Families

were migrated to new systems and processes,

• We also introduced a new Inland

Revenue website and revamped digital channels and services. Now we’ll look ahead to our next set of changes, most of which are effective April 2020. At a high level ▪ Electronic investment income information reporting, which is currently voluntary, becomes mandatory ▪ We will make KiwiSaver, PAYE and student loans easier to manage ▪ KiwiSaver, Student Loans and PAYE financial information will be moving into

• ur new system, meaning you’ll have a

more integrated, real-time view of what’s been paid when. ▪ PAYE processing will be held in a single employer account; We are moving the backend processing into our new system, meaning transactions and payments will show up a lot sooner. ▪ We’re making a few improvements to Working for Families, Student loans and KiwiSaver, mainly to help reduce large

• ver and underpayments.

▪ There is a new research and development tax Incentive. ▪ And a new short process ruling, which we’ll cover briefly. ▪ Finally, we’ll look at how to pay seeing that cheques will no longer be accepted from 1 March 2020. We’ll have a look at these more closely, I’ll start with the changes that will affect you if you are filing investment income information to us.

IN CONFIDENCE Māori Authorities may use tax professionals such as tax agents or accountants to file investment income information, but it is important to understand the changes and what the change may mean for you, and why your tax professional will be asking for information from you. For those Māori Authorities who do not use a tax professional, the information we will share is very important to understand. You may find that you will now be required to file information to us because of the changes that are becoming mandatory in April. But before we look at the actual changes, I’d like to do a very quick recap of what investment income is. Investment Income refers to interest, dividends, portfolio investment entity (PIE) income, taxable Māori authority distributions and royalties. Income earned in New Zealand from investments, such as interest or dividends, is taxed through resident withholding tax (RWT) when the income is paid to a New Zealand resident, or non-resident withholding tax (NRWT) when the income is paid to someone who is not a New Zealand resident. Deducting RWT means that people who receive investment income don’t have to pay all the tax in a lump sum at the end of the year. Also, people who don’t declare their investment income still have tax deducted from it. Distributions from Māori authorities are also subject to RWT. Dividends and Māori authority distributions may have tax credits attached and these credits represent tax paid by the company or Māori authority and reduce the income tax liability of the recipient of the dividend or distribution. Most of the changes come into effect on 1 April 2020, although some have been in effect since 1 April 2018 and 1 April 2019. So, how does investment income work? The tax is paid to Inland Revenue and the detailed information backing this up is submitted to us by the same deadline. Our system will reconcile the two. No payment forms are needed and there’s no end-of-year reconciliation to complete. Dependent on the type of investment income paid, payers will be registered for one or more

• f the following account types:
• Interest PAYE System (IPS) – RWT

deductions from interest only.

• Non-Resident Withholding Tax (NRT) –

NRWT on New Zealand sourced interest,

IN CONFIDENCE dividends or royalties paid to non- residents.

• Resident Withholding tax (RWT) –

Deductions from Māori Authority Distributions and specified dividends

• nly. Specified dividends are dividends

treated as interest and are dividends which are paid by organisations that do not operate an imputation credit account.

• Dividend Withholding Tax (DWT) – RWT
• n all other dividends (cash and non-

cash). You can file all your information each month in

• ne return via multiple returns to suit your

business processes. The deadline for the payment is the same – you still pay by the 20th of the month following payment to your investor. We are aligning the submission of information to us along with the payment. There are some exceptions: PIE investor information is still annual and so is non- resident withholding tax on royalties. More frequent reporting of investment income becomes mandatory on 1 April 2020. It will be due by the 20th of the month following the month the income was paid. Some

• rganisations may begin this reporting prior to

1 April 2020. A multi-rate PIE that is not a superannuation fund or retirement savings scheme will be required to report investment income information to Inland Revenue yearly by 15 May after the end of the tax year. Reporting will not be required for:

• nil returns (if no income is paid

in a month)

• resident withholding tax (RWT)-

exempt investors Reporting will need to be done electronically, either by:

• Manually uploading a csv file

through myIR (this is the most common method).

• Completing an on-screen form

available through myIR. This is suitable for low volume filers (up to 2000 lines).

• Directly via electronic channels.

This is suitable for large volume filers. For the tax years ending 31 March 2020, payers of income subject to RWT and NRWT (apart from royalties) are to report the currently required year-end information by 15

IN CONFIDENCE May, rather than 31 May. This is a transition measure until more frequent reporting becomes mandatory from 1 April 2020.

• Investment income payers will need to

provide additional information, where held - the date of birth and contact details of the recipient; and details of any joint account holders, if held.

• The non-declaration rate increases to

45% for RWT on interest income when a recipient does not provide their IRD number to the payer. This is an important point to note.

• There is no longer a requirement to

issue end of year RWT on interest certificates to recipients who have provided their IRD number.

• An electronic RWT-exempt status

register will replace RWT-exempt certificates.

• The error-correction processes will be

improved.

• Additional record keeping will be

required for the payment of non- resident withholding tax (NRWT). Reporting will need to be done electronically, either by:

• Manually uploading a csv file through

myIR (this is the most common method).

• Completing an on-screen form available

through myIR. This is suitable for low volume filers (up to 2000 lines).

• Directly through IR’s accounting
• software. This is suitable for large

volume filers. There will be a penalty for payers who don’t provide investment income information electronically. A penalty of $250 will be applied each time information isn’t received electronically, up to a maximum of $250 a month. Initially, this penalty won’t be automatically applied to give payers time to get used to the new reporting requirements. In future, from a date yet to be decided, this penalty will be automatically applied. There is no late filing penalty, but there is a late payment penalty.

IN CONFIDENCE There are a few things that recipients of investment income need to know – so let’s take a look at that in more detail: As a recipient of investment income, you need to provide your IRD number to your investment income payer (eg your bank) to ensure you’re

• n the right tax rate and to avoid the non-

declaration rate When your income investment payer has moved to the new reporting regime, we will split any investment income reported for an account equally across all the joint account holders who have provided their IRD numbers to their payer. You can change this allocation through myIR on our website (or on your income tax return). From 1 April 2020, if you have an RWT (Resident withholding tax) exemption, you won’t receive an exemption certificate, your payer can look-up your exemption status in the new RWT-exempt status register when you give them your IRD number. Your investment income will show up during the year in myIR. When you are ready to begin filing online under the new regime, you will need to ‘opt in’ via myIR. Complete the opt in form at the account level under ‘I want to…’ > ‘More’ e.g. If you want to begin reporting for payments made in July 2019, then you need to opt in at least 5 working days before 1st July 2019. The return obligation will show under your relevant tax account in myIR. It is possible to submit the investment income information as multiple returns – this may be driven by your business model and/or system configuration. Payers with large volumes or multiple sources

• f transactions to file should contact their

existing Inland Revenue relationship manager (or send an email request to gatewayservices@ird.govt.nz) to enable them to be set up to allow multiple returns to be filed in a specific month for a given withholding tax type. If the payer is already registered for the tax type, then the filing frequency will be set up as the same as they currently file (e.g. monthly or irregular monthly) unless they request a change. If a new payer they will need to confirm when

• pting in the registration start date that you

will be filing IIR and the filing frequency option (for IPS and NRT only) (e.g. monthly or irregular monthly)

IN CONFIDENCE Note to file your final reconciliation return(s) – you will need to file a final IR15 and IR67 certificate return by 15th of May 2020. This will need to be for the interest payments made from 1 April 2019 up to the day on which you switch to the more frequent reporting. So, it will be a part year return. Not a 12 month return like you may have done previously. A distribution in practice could be an example where whanau have shares in land that generates an income. Money is paid to the shareholders as a distribution Now let’s look at further changes we are implementing to modernise and simplify the way we work with customers and deliver services. The next few slides will focus on changes that will come into effect in April 2020. We will transition employer activities (PAYE/EMP) and financials into our new

• system. This includes payroll giving and the

ACC earner’s premium component of PAYE.

• All employer accounts that hold

information employers have filed, will be combined into a single Employer or as you know it a Payroll account – this includes PAYE, student loans, child support, employee and employer KiwiSaver deductions, and employer superannuation contribution tax

• deductions. This will provide a single

view of all employment activities.

• Currently employers file PAYE returns in

the new system, but all the back-end processes are managed in the old

• system. With us moving the backend

processing into our new system in April 2020, transactions and payments will show up a lot sooner, which will result in an improved user experience.

• Employers will be able to pay when they

file in myIR if they want to. The due date for payment isn’t changing, but employers can choose to file and pay at the same time if that works better for them.

IN CONFIDENCE We’ll take a consolidated approach to employer notifications which means we’ll reduce the number of notifications we issue to employers by consolidating notices.

• From April 2020 we’ll group our

communications by ‘topic’. The 3 main groupings will be:

• Updates to an employer’s employment

information to start or stop deductions for employees

• Updates to deductions employers are

currently making for employees (for example notification of a tailored tax code), and

• Notifications that advise employers on

any return errors they need to fix from recently submitted employment information. Based on feedback received, the letters will have only one employee per page and will display all updates for that employee. There will be further changes to the onboarding process for new employees which will reduce confusion and repetition of information for employers.

• The ‘New Employee Details’ (IR346) and

the ‘KiwiSaver Enrolment’ (KS1) will be combined into one ‘Employee Details’ form, both in myIR and on paper. Employers will only need to provide information for new employees once - currently they need to provide the same information twice for new employees,

• nce for KiwiSaver and the other for

general PAYE details.

• Employers will be required to supply an

employee’s first and last name when completing an employee onboarding request.

• The existing service to update employee

details will be broken down into smaller sections, allowing employers to update specific information as required, rather than providing full information details every time.

• Employers will only need

to provide a KiwiSaver status for new employees. This will no longer be collected for existing employees.

• As a one-off, employers

will need to advise of any income that will be received by a new employee that is exempt

IN CONFIDENCE from KiwiSaver

• contributions. This will be

checked annually by IR. Employer transactions will display differently in myIR as transactions are aligned with payday

• filing. As the back-end processing of the

Employment Information return is moved into

• ur new system, transactions and payments

will show up a lot sooner in the single account.

• Employers will notice a

change in name to the

• account. It is currently

‘Payroll (was ir-File)’ and will be changed simply to ‘Payroll’ in April 2020.

• The landing page of the

Payroll account will be redesigned, with a summary screen showing the account balance, registration details and any recent activity.

• Each time you file an

employment return the transactions will update to include the return you have filed, and you will still see the breakdown of each deduction type (e.g. PAYE, student loan deductions etc.)

• The ‘My details’ tab will be

renamed ‘Names and addresses’ to provide clarity for customers about where to update their contact details. Employers will be asked to collect more information from employees such as hours paid, which will assist with the management of social policies such as Working for Families tax

• credits. Reporting of this information will be

voluntary and only supplied via Gateway Services and myIR.

IN CONFIDENCE

• Improvements are also being made to

the current validations for online submissions of employment information. Employers will still be able to submit Employment Information but will be automatically notified of any issues

• identified. This will provide employers

with more up to date information about their employees when submitting their EIs.

• New fields will be added to the

Employment Information return including

• Employee Share Income (ESS),
• extra compulsory deductions for

student loans (SLCIR),

• and extra voluntary deductions

for student loans (SLBOR). If applicable, these fields will be completed instead of using a separate tax code on an additional line item.

• A letter will be issued to the employer if

the student loan is expected to be repaid within 3 months based on their repayment history.

• When a customer’s student loan balance

drops below $1,000, a letter will be issued to the customer. This means that letters may be issued to both the customer and employer at different times. This screenshot shows what you see now when you look at your employer information online.

• Currently when you log in you will see a

large orange banner reminding you that all payments make take up to 15 days to appear- this is because we are currently working between 2 systems. This banner will go in April 2020

• This means that any transactions from

the returns often don’t appear on this screen until after the payment due date.

• They are all treated as separate

accounts

• Most people currently stop at this page

with over 90% finding this is enough however by clicking the red circled transactions detail button you can get more information.

IN CONFIDENCE And will see something like this. Even though you file one return, we displayed it back to you split into separate accounts, so you have to treat them individually –like transfers between them, separate penalties etc We are looking to improve this experience after April 2020. This is the first new page you will see.

• Here you will be able to see payments

made and can use this to reconcile your records.

• Whilst most people are satisfied with

this page, we know that some customers prefer more information. When you click on the box indicated by the red circle:

• You will be able to see payments made.
• Transactions appear as soon as returns

are processed.

• Penalties are only shown as one figure-
• ne account, one calculation of penalties
• Blue writing is a link to further detailed

information.

• You can drill down into each transaction

and see the returns that have been included in that transaction

• You can see each individual return,

where you can view, print or amend it

• Transactions are now linked straight to

the return-

IN CONFIDENCE When you click the red circle around the “view return link” you can get more detail about that transaction – in this example more details about the student loan deduction. This shows the details about the two student loans deductions made during the return period. So, we’ve heard a bit about what’s changing so now let’s just recap what’s not changing.

• The payment dates stay the same
• How employers communicate with IR

through voice, paper and electronic channels is the same and.

• The fact customers will still be able to

file through paper solutions remains unchanged. From April 2020, we’ll move student loans in

• ur new system. This means we will process

repayments faster and customers will be able to keep track of student loans in myIR. There are also some other changes subject to the passage of legislation, we are still finalising the details while they are being considered by parliament and these may change:

• We will no longer charge and write off

interest for New Zealand based

• customers. Which will help make

statements easier to read.

• When a customer’s student loan balance

has almost been fully repaid, we will advise them. Where possible, we’ll also notify their employer the final amount to deduct from their employee’s salary or

IN CONFIDENCE

• wages. We’ll also let them know what

tax code they should be change to after the final amount has been deducted.

• 1. We are proposing to rename the

repayment holiday to “temporary repayment suspension”. This is to help make it clearer that repayment

• bligations they have as an overseas

based borrower are only stopped temporarily, interest will continue to be charged during this time. And,

• 2. If you are overseas and medically

unable to work/care for yourself, you may now be eligible to apply to be treated as overseas – interest free. This means you will not be charged interest and won’t have a yearly repayment

• bligation.

Customers will be able to do more things

• nline,
• They will have easy access to

multiple payment options, including being able to make a payment through myIR as well as setting up direct debits from Australia, UK, Europe, USA and Canada

• The current student loan

repayment calculator will be more user-friendly, and we will have a new calculator so customers can easily work out when travel will impact whether interest is charged on the loan

• Customers can apply for hardship

and reduced deduction rates - It will be easier to work out and apply for a reduced or nil repayment rate, or exemption from interest if overseas.

• They can also provide world-wide

income through myIR. In our high-level overview we provided some information around what’s changing on Working for Families Tax Credits. There are four main changes, and in the next slide we’ll take a closer look at each of these. Bullet 1: When a customer applies for Working for Families, they will be able to request to have a lump sum payment of any backdated entitlement when they register, instead of waiting until the end of the tax year in which they have applied. Bullet 2:

IN CONFIDENCE At the end of the year, if a current, full year Working for Families partner has an income tax credit, it will also be automatically offset against the principal caregiver’s overpayment for that same year. If the principal caregiver has an income tax refund, this will continue to be automatically offset. Bullet 3: When a customer’s WFFTC assessment has been held up due to the principal care giver or partner’s income details not being available, the customer will be given 30 days to pay, if the amount assessed to pay goes past the due date Bullet 4: If a customer has a Working for Families

• verpayment or debt to pay, they will be able

to set up a Working for Families entitlement arrangement and use their current weekly or fortnightly entitlement to repay this. Let’s have a look at what’s changing for KiwiSaver members…

• KiwiSaver will move into our new

system meaning members will have greater visibility of deductions and

• contributions. Members will also be able

to view their KiwiSaver account in myIR, instead of being redirected to the KiwiSaver website.

• As employer contributions will be passed

straight through to Scheme Providers, it will mean funds will be transferred to providers quicker.

• Transfers between Scheme Providers

will now only take up to 10 working days, instead of 35 days.

• The holding period for new members

who have been automatically enrolled will reduce from three months to two months.

• Interest on KiwiSaver contributions will

begin from the pay date a member’s contribution was reported by their employer to IR.

IN CONFIDENCE Now let’s move on to Short Process Rulings: A short-process ruling is a new way for individuals and organisations, with an annual gross income of $20 million or less, to apply for a binding ruling on how a tax law applies to a situation. Short Process Rulings came into effect on 1 October 2019 and eligible customers can use this simpler, lower cost and faster process to get tax certainty. Information has been made available on our website to help customers determine whether they qualify. If they qualify, customers are able to apply online and include attachments with their application. As tax agents you can apply on behalf of your clients in the tax preparer tab. They’ll also be able to pay the $2000 fee

• nline. We will confirm we’ve received their

application and payment and you can track the status of the application in myIR, generally the turnaround time is 6 weeks. Short process rulings, provides certainty for your customers, is easy to use and more cost effective than the full binding rulings process. Most of you already know that from 1 March 2020, we will no longer be accepting cheques from customers who are able to use alternate payment options. This includes post-dated cheques (dated after 1 March 2020). Customers need to contact their bank to talk about alternate payment options or speak to their tax agent if they have one. So how can customers pay tax if not by cheque? You can pay online in myIR MyIR enables you to manage your tax matters securely, and you can use it to pay with a debit

• r credit card.

You can also set up a direct debit. This is a good option for paying regular, variable tax bills. You can pay on our secure payment website which you will find by visiting www.ird.govt.nz and searching on “make a payment”. Here you can pay by using a debit

• r credit card.

The third payment option is internet banking You can authorise your bank to make one-off

• r regular payments.

You can make a single payment or set up future dated payments, or if you find it easier to, you can schedule regular payments for a fixed amount.

IN CONFIDENCE Here are a few more payment options: You can pay through Westpac, using EFTPOS or cash at any Westpac branch or use a Smart ATM. If using a Smart ATM, bring the barcode on your statement – you’ll need the barcode from 1 July 2020. It’s important to note that you do not need to be a Westpac customer to use these services. Anyone can pay through Westpac. You can pay through your bank Phone or visit your bank to talk about what payment options are available to you, such as direct credit, automatic payments and phone banking. For customers who prefer to continue using paper, the IR586 - Automatic payment form is a viable option. These can be used with ANY

• bank. The form allows for situations where 2

people need to sign or authorise a payment, can be future dated, and can be set up as either one-off or regular payments. You are able to download this form from our website,

• rder them through our stationery express, or

we can send these to you. We’re also introducing a new way to pay which will come into effect from early April

• 2020. This will enable customers to pay over

the phone by calling Inland Revenue and self- servicing, meaning you won’t need to wait in a queue. So, to wrap up - here are a few payment tips:

• To make sure your payment goes to the

right place, you’ll need to provide your IRD number, the amount you’re paying, the month or period the payment relates to and the tax type.

• Banks charge a 1.42% convenience fee

for credit card or debit card payments to Inland Revenue (except student loan and child support payments made from

• verseas). Bank charges may apply to
• ther payment options too.
• Not for profits do have some free
• ptions for 2 to sign situations available

with some banks – and we encourage you talk to your bank if this applies to you. We know that there’s no one size fits all, so if you need any help or have a unique situation, please contact us. We will only consider making an exception for unique situations where there are no alternate payment options.

IN CONFIDENCE That’s all for today. We’d like to encourage you to complete the feedback survey that will pop up on your screen when the webinar ends. This feedback will help us improve future sessions and get an understanding of the type of information you want to know more about. Just to confirm that we’ll follow the standard practice of sharing all the questions asked and the answers with all participants. If you missed this session or would like to watch it again, it’s available on demand on the Transformation session of our website (link to webpage) We understand it’s a lot to take in, and it would be natural to have more questions than answers at this stage. We have a lot of information and resources available on our website, so I’d encourage you to check it out. You can also talk to our Community Compliance team, sign up for a newsletter, or connect with us on social media. As a reminder, most Inland Revenue offices have a Kaitakawaenga Māori who can assist Māori organisations and individuals with their business tax responsibilities. Our advisors will tell you:

• which taxes you need to know about
• what records you need to keep
• how to complete your tax returns (for

example, GST and employer returns), and

• when to file returns and make

payments. So that brings us to the end of today’s

• presentation. Thank you for participating.

Please remember to visit our website of which the details are on screen now – where you can register for future webinars, watch previous session On Demand, and find the Questions and Answers from previous session. The webinar presentation will be available in the On-Demand session, but we’ll also make it available on this page shortly before the presentation. That’s all from me for today. Goodbye