Inland Revenue Department’s tax pooling system is unique to New Zealand and is used mostly by large corporates.
Trying to give an exact estimation of provisional tax year on year is almost impossible, and underpaying or over paying provisional tax can cost you money.
But thanks to tax pooling which was introduced by the IRD in 2003, it assists taxpayers in meeting their provisional tax obligations.
If you want to know more about how tax pooling works, we would be happy to have a chat.
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Tax pooling lets you choose whether to pay provisional tax in lump sums or spread out tax payments over time. Talk to us for more information.