The Business Advisory Blog

The Business Advisory Blog

Insight, news and updates from Alliott NZ Chartered Accountants, Auckland New Zealand. The views expressed here are the views of the author and should be discussed in further detail should an article be relevant to your individual circumstances.

While every effort has been made to provide valuable, useful information in this publication, this firm and any related suppliers or associated companies accept no responsibility or any form of liability from reliance upon or use of its contents. Any suggestions should be considered carefully within your own particular circumstances, as they are intended as general information only.

Greg Millar
Published on

Moving away from cheques

budget financials laptop-902As you have likely heard, from 1 March 2020 the NZ Inland Revenue will stop accepting payment by cheque, including cheques dated after 1 March 2020.

In preparation for this change, they have drafted changes to their standard practice statement. You can have your say on the proposed change by going to the website and downloading ED0221. The consultation period closes on 13 December 2019. 

Paying over the counter at Westpac - mandatory barcodes

Customers can choose to pay their taxes over the counter at a Westpac branch/smart ATM even if they don’t bank with Westpac. From 1 July 2020, all payments at Westpac must be accompanied by a barcode. The barcode is a more reliable way of passing your details to Westpac and will prevent your payment going to the wrong place in the account, or potentially even the wrong person’s account. 

NZ Inland Revenue is adding barcodes to notifications where they're requesting you to make a payment. If you misplace your barcode, you can generate one using the barcode generator on their website. You will need your IRD number, the tax type and the period of the payment. You can then either print or show it to Westpac staff on your phone. 

Source: NZ Inland Revenue

Topics: IRD Payment methods tax