A Week in Review

Cheques a thing of the past

I’m certain that I do have a cheque book somewhere in my drawer if I ever happened to need to use one, however do not ask me to tell you the last time that I actually did fill one out.

Perhaps not the case though, for those taxpayers who were in the “exclusive” group of cheque payers during 2018, where IR received some 5% of all payments during the year via this method.

This “exclusive” group of cheque payers has been declining over recent years however, to the extent that IR has now issued notice, that effective from 1^st March 2020, cheque payments will only be accepted where the taxpayer has no other payment option available to them (although there is no mention in the publication exactly how IR proposes to ascertain this).

To ensure that taxpayers and their agents are also fully aware of the various payment options available, the tax update lists the following potential methods:

• MyIR – either by direct debit or via use of a debit card/credit card, securely through the MyIR online portal, which can be located at – www.ird.govt.nz;
   
• Online banking- using your own banks on-line payment portal, most of which already have IR set-up as a potential payee;
   
• Credit or debit card – directly via IR’s website (www.ird.govt.nz) without using the MyIR portal and instead via the link – www.ird.govt.nz/pay;
   
• In person at Westpac – where you can make payments either by way of EFTPOS or cash, and via a teller (for an actual personal experience) or via a Smart ATM; and,
   

Money transfer – for those overseas you can pay IR using a money transfer service. Search for “make a payment” on their website for more information – www.ird.govt.nz.