IRD Moving Away From Cheque Payments
The Inland Revenue made an announcement in September that they will be moving away from cheques payments as they become increasingly digital.
From 1 March 2020, IRD will no longer be accepting cheques, including post-dated cheques (dated after 1 March 2020) from customers who are able to use alternative payment options.
With cheque usage declining every year, this also reflects customers’ preferences. Last year cheques only accounted for 5% of payments; most customers are now choosing to pay their taxes electronically.
For those customers who do still use cheques, IRD is encouraging them to get a head start on finding other convenient and secure payment options that work for them. IRD appreciate that for some people this will be a significant change and it will take some adjustment, although there are now lots of faster, cheaper and safer ways to pay electronically or in person.
Ways to pay
IRD recommend you contact your bank about online banking options such as: direct credit payments, automatic payments. Many banks offer a dedicated tax payment option.
You can pay online through Inland Revenue:
Use your credit or debit card to make online payments through the IRD website. You can pay by direct debit and make debit card and credit card payments securely through myIR online services. Visit the IRD website and login or register for myIR.
If you’re overseas you can pay using a fees-free money transfer service. Search for “make a payment” on the IRD website for more information.
Pay In person:
You can drop into a Westpac bank and pay your taxes over the counter by cash or eftpos. You can only do this at Westpac branches. You can also use one of Westpac’s Smart ATMs. If you can access the internet, go to the Westpac website to find a Westpac branch or Smart ATM near you.
Find out more
To help you find a payment option that works for you, talk to your bank about their online banking facilities. You can also find out more about your payment options on the Inland Revenue website. As a tax agent for all Yorke Stone clients talk to us re IRD payment options.
This is article is extracted from Sept IRD newsletter.