Here’s what you need to know….
What: Inland Revenue and ACC will no longer accept payments by cheque or any cheques dated 1 March or later. ACC levy refunds will also no longer be issued by cheque.
When: 1 March 2020
Who: Businesses, individuals, and intermediaries (such as accountants, tax agents and advisors) who pay tax and levies by alternative payment options.
Why: Cheque use has declined year on year. Along with IR and ACC, many organisations, like Kiwibank, are no longer accepting or processing cheques as they move towards electronic payments.
What you need to do: Familiarise yourself with the following payment options for IR and ACC. You can pay:
- electronically through internet banking or direct debit
- by debit or credit card online through myIR or MyACC for business
- by cash or eftpos but only at Westpac bank branches.
If you think you’re due a refund from ACC, you can provide your bank account details via MyACC for Business. That way, any refunds owed will be processed and paid to your bank account directly.
If you have any questions at all – get in touch with one of the team today.