When it comes to paying your tax, in full and on time is the best way. If you don't think you'll be able to pay your GST, pick up the phone and call us on 0800 555 024, so that we can do everything within our power to reduce the compounding costs that come with Inland Revenues interest and late payment penalties regime.
How we help
In certain circumstances, Inland Revenue will accept payment arrangement as a financial relive but this can’t be relied on or used for every GST payment. We'll be able to work with you to find the best outcome for your situation.
We might also be able to help you chat about ways to improve your cash flow and ensure you have cash for when GST time rolls around. For example, if your customers are slow in paying, and you're registered for GST, consider using the payments basis so you can pay your GST as your customers pay you. Check out our article on how your GST basis and frequency can impact your cash flow.
We can also chat with you about generally about how you're managing your cash flow and help ensure that you have the right support around this, check out our blog on cash flow for a few handy pointers.
What happens if I don't make my payment
If you simply don’t make the payment, Inland Revenue will impose late payment penalties and interest which is compounding from the date the GST was due.