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Matt Harris

πŸ‘€ Speaker
185 total appearances
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Appearances Over Time

Podcast Appearances

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

And that's where people fall down.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

They just ignore it.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

And you did right.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

You can't ignore something that's compounding and penalising you daily.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

Every month, every day.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

building on top.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

Yeah, definitely.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

So tax pooling is quite specific in its application, but for provisional tax, for example, if 7 May is our next provisional tax payment, get your bank accounts ready, guys.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

If you can't pay in full or at all in that time, you can use tax pooling.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

So tax pooling is like a finance company for tax and you can basically buy the tax in the future.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

So imagine you know like you're a lumpy cash flow business, you know in June you can have the money.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

You can buy the tax out in June and pay for it in June and it will go back to May.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

Other things you could do which we do in here is that you can put regular deposits in your tax poll so that when tax time comes you don't have to find large amounts of money, it's a lot easier to find little bits of money than it is to find all the money.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

I agree with that.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

It's honestly, if it goes too much further, it becomes like a national issue, like economic and like psychological issue.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

That's a lot of tax to be owed.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

Hopefully they just wipe it off.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

You know, like they pardon turkeys every year in America.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

They'll just pardon one taxpayer every year and pardon them.

Cheques and Balances
$9.3 Billion Tax Bill: Why NZ Businesses Are Struggling | Episode 477

I'll be the one.