How to Pay Your IRD Directly Using a Bank Application: A Guide for New Zealand Taxpayers
As taxpayers, it can be difficult to manage tax payments at times, but in New Zealand, paying your Inland Revenue Department (IRD) duties has never been simpler thanks to the development of digital banking. With a few smartphone touches, you may streamline the process of paying your taxes, whether you’re handling personal taxes or the financial obligations of your business. Let’s go over how to use your bank’s mobile application to pay your IRD immediately and efficiently.
Step 1: Log in to Your Bank’s Mobile Application
First, you’ll need to open your bank’s mobile app. Ensure your app is updated to the latest version to avoid any technical issues. Once you’re in, log in using your usual credentials. If you’re using a fingerprint or face recognition, this part will be quick and seamless.
Step 2: Navigate to the 'Payments' Section
Secondly, once you’re logged in, look for the ‘Payments’ or ‘Pay & Transfer’ section. Different banks might label this section slightly differently, but it’s usually easy to find on the main dashboard. Tap on this option to proceed.
Step 3: Select 'Pay Tax' or 'IRD Payments'
In this section, many New Zealand banks will have an option specifically for tax payments, often labeled as ‘Pay Tax’ or ‘IRD Payments’.
Step 4: Enter Your IRD Number
After selecting ‘IRD Payments,’ you’ll be prompted to enter your IRD number. This number is crucial because it’s how the IRD identifies your account. Double-check that you’ve entered it correctly to avoid any delays in processing your payment.
Step 5: Choose the Tax Type and Period
Next, you’ll need to specify the type of tax you’re paying, such as income tax, GST, or provisional tax. You’ll also need to indicate the period for which you’re making the payment. For example, if you’re paying GST for the April to June quarter, make sure to select the appropriate period to ensure your payment is applied correctly.
Step 6: Review and Confirm the IRD Payment
Before finalizing your payment, take a moment to review all the details. Ensure that the amount, IRD number, tax type, and period are all correct. Once you’re satisfied, go ahead and confirm the payment. Most banking apps will send you a notification or email confirmation once the payment has been successfully processed.
Step 7: Keep a Record of Your IRD Payment
After making your payment, it’s a good idea to keep a record of the transaction. Most banking apps allow you to download or email a receipt directly from the app. This can be useful for your records, especially if any discrepancies arise later on.
Need Help with IRD? We’re Here for You!
At DAD Accountant, we understand that tax matters can be complex and time-consuming for taxpayers. Whether you’re unsure about how to make a payment or need advice on tax obligations, we’re here to help. Our team of experienced accountants can assist you in navigating the intricacies of the New Zealand tax system, ensuring you stay compliant and avoid any unnecessary stress.
Contact us today to schedule a consultation and discover how we can simplify your tax management, leaving you more time to focus on what you do best—growing your business and enjoying life.
03 September 2024