Terminal Tax
Terminal Tax is quite simply the 'catch-up' tax you have to pay if the tax you paid during the year (withholding, provisional or PAYE) was insufficient to cover the tax on your assessable income.
For a standard April to March financial year:
If you are linked to a tax agent and have an extension of time with the IRD, then this tax is due 7 April the year after the end of the relevant tax year. For example, terminal tax for the year ended 31 March 2009 was due 7 April 2010.
If you do your own tax, then it is due 7 February.
If you have a non-standard balance date, then talk to us about when your tax returns and tax payments are due.
Terminal Tax is quite simply the 'catch-up' tax you have to pay if the tax you paid during the year (withholding, provisional or PAYE) was insufficient to cover the tax on your assessable income.
For a standard April to March financial year:
If you are linked to a tax agent and have an extension of time with the IRD, then this tax is due 7 April the year after the end of the relevant tax year. For example, terminal tax for the year ended 31 March 2009 was due 7 April 2010.
If you do your own tax, then it is due 7 February.
If you have a non-standard balance date, then talk to us about when your tax returns and tax payments are due.
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