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Forewarned is forearmed

12 Nov 2015

 When is a payment made in time?

The IRD SPS 14/01 Tax payments - when received in time, sets out the rules for payments accepted as being made in time.

These are the following rules for the various payment types:

  • by post - must be received by us before or on the due date
  • electronic payments, local and from overseas - must be paid into our bank account before or on the due date
  • internet banking - payments made on the due date must be made before the end of the banks business day to be treated in time.
  • cash and eftpos - these are accepted at Westpac branches and must be made before or on the due date before the end of the banks business day
  • cheques - must be delivered to an Inland Revenue office before or on the due date, and before the office closes for the day. Post-dated cheques will be treated as late if the post-dating is after the deadline.

Payments that fall on a holiday or weekend

The IRD accept a payment to have arrived on time if it arrives or is credited before the close of business the next working day after a holiday or weekend.

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