More than a billion dollars of tax debt has accumulated, as people seek assistance from Inland Revenue in the wake of Covid-19’s economic fallout.
According to RNZ, in March 2020, 104,443 payment arrangements were set up with a dollar value of $1.167 billion. This was a nearly 40 percent jump from March 2019.
IRD said as well as the substantial increase in the amount of debt covered by the instalment plans, the average length of payment plans in 2020 increased from just over eight months to nearly 11 months, indicating people wanted to pay less each instalment.
Unfortunately, many people struggle to convey their position or circumstances to IRD effectively, that’s where we come in.
David Weaver, a highly sought-after Tax Barrister, formerly worked for IRD and he and his team are best placed to assist those struggling to communicate with Inland Revenue.
- We can achieve payment plans over up to 36 months, sometimes more.
- We can ensure your debt is given the write-off consideration it is entitled to; if the circumstances are right, you could be eligible for a 100% write off of your tax debt.
- We can communicate your position as a family or employer – e.g., that you rely on your income for others.
- Best still, we can represent you in court – even if you have already been served papers, to buy time to sort an arrangement with IRD.
It is our experience that an in-house tax barrister/debt specialist combination provides the best results for our clients.
Give us a call today to see how we can help you recover from the effects of lockdown; with us, you can continue.