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.