My Tax.Co.Nz Advise Now Is The Time To Reapply For Your Tax Refund

With the new tax year opening on 1 April 2015, Lester Binns, CEO and founder of Mytax.co.nz advises that it is time to apply for tax refunds, which will be paid in June once the IRD releases them. For those who haven’t applied for a tax refund before, Mytax.co.nz say that the best time to see if they are eligible is the sooner the better. The MyTax team can only check the last five financial years, so if people wait until after 31 March they will lose the earliest year’s refund.

MyTax.co.nz is one of three online tax refund businesses that command more than 90 per cent of the market and there are now around a quarter of a million more refunds issued by number than before the online tax refund industry was born. However, as Lester says, there is still growth potential, as around a million people are neither applying directly to the taxman to see if they are due a refund, or using one of the tax refund websites to do it for them. Binns said after six years in business his company was facilitating tax refunds of $500,000 per week for customers, but he is at pains to let people know that the IRD only allows tax refund companies to access back five years, which makes it even more important for people to apply for a refund, if they haven’t already done so. After five years, any tax refund they may have been eligible for will automatically and forever go back to Treasury! This is why it is even more important to employ a company like MyTacx.co.nz to ensure this doesn’t happen.

Another thing that people may not realise is that nine out of ten MyTax customers have generally paid too much tax on their hard-earned income over the last five years, which is all the more reason to be ‘on the ball’ and get in touch with the MyTax.co.nz team. Also, with the new financial year opening on 1 April, people can hop online at http://www.mytax.co.nz and take the five minutes (that’s all that’s needed) to fill out the very simple form to apply for their tax refund for last year, thus joining the growing ranks of successful New Zealand tax savers.