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Understanding your plan options

TMNZ offers three ways to handle a tax date through the pool. Which one applies mostly comes down to two questions: has the date already passed, and whose money is covering it?

 

 

Tax Purchase

Tax Finance

Tax Deposit

For a tax date that's...

Already passed

Still upcoming

Still upcoming

Whose funds

TMNZ's, already sitting in the pool

TMNZ's, released once a fee is paid upfront

Your own

Cost

Purchase interest only, floating rate, no fee. The quoted rate is held for a set window if paid promptly

A finance fee paid upfront, which locks a fixed rate for the full term

None: no fee, no interest either way

Repayment

Full payment, or flexible (pay what you can, until covered)

Fee first, then core tax as a single repayment, or monthly instalments (currently staff-arranged only)

Not applicable, it's already the client's own funds

Typical use

Catching up a missed date without wearing IRD's interest and penalties

Spreading the cost of a date you can see coming, ahead of it arriving

Parking funds you already have, ready for a date you're covering yourself
 
 

A plan can also straddle the tax date itself: amounts paid before the date count as a Deposit, amounts paid after count as a Purchase. That combination isn't a separate product to choose, it's simply what a flexible payment plan becomes if it runs past the date.

Tips / Things to Know

  • If a date has already passed, Tax Purchase is the only one of the three that applies. Tax Finance needs a future date to work from.
  • Tax Deposit costs nothing because it's the client's own money. Purchase and Finance both draw on TMNZ's pooled inventory, so both carry a cost, interest on Purchase, a fee on Finance.

     

  • Tax Purchase has a hard IRD deadline for how late it can be created against a missed date. Ask your client's tax team for the current cutoff rather than assuming a fixed number of days.
  • Self-service currently supports full or flexible payment on a Tax Purchase, and a single repayment on Tax Finance. A monthly instalment Finance plan needs to be set up directly with TMNZ for now.
  • None of the three plan types block you from also holding others: a client can have a Purchase, a Finance and a Deposit plan open at the same time, for different tax dates.