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| Thread ID: 84687 | 2007-11-15 01:24:00 | Question about TAX from interest earned. | CCF (6760) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 611576 | 2007-11-17 09:15:00 | The IRD is (contrary to what you might expect) actually very helpful over the phone and would be very happy to give you free advice on this. I have got a lot of good advice from IRD staff in the past. They might even send someone round to have a chat (they offered me that once). |
george12 (7) | ||
| 611577 | 2007-11-17 09:47:00 | One last little question, if I want more information about these things, would I goto the Inland Revenue, bank or an accountant? If it is the accountant, are there any recommendations and price for a consultant? The Bank? I'd be surprised if you got good tax-related advice from your bank, but I'm happy to be proved wrong. The IRD? Maybe. But I will forewarn you that generally they don't speak English (as you know it) and I'm guessing you don't speak tax-speak. That's why you would need an interpreter, otherwise known as a tax agent. Not all accountants are tax agents and I certainly wouldn't recommend using one of the big firms. A small business tax agent who is relatively local to you is the best bet. But, speaking as a registered tax agent, I doubt you will get advice that would differ much from my first post. The moment the 3 people pool their money they are technically in a partnership so why not formalise the process? Secondly, it isn't that much hassle - I provided you with what needs to happen earlier. If you can fill in a personal tax return then you can complete a partnership return (if the only income is interest with RWT deducted). Furthermore, you will get a guide with your tax return. Again, if you aren't comfortable with this then seek out a local tax agent. Andrew |
andrew93 (249) | ||
| 611578 | 2007-11-17 11:46:00 | I simply want to endorse Andrew's advice. He is correct. | Winston001 (3612) | ||
| 611579 | 2007-11-18 22:10:00 | Once again I would like to thank you all for your suggestion and comments, especially to you andrew93. You guys have no idea how much this helped :blush: | CCF (6760) | ||
| 611580 | 2007-11-19 00:45:00 | You're welcome! :) | andrew93 (249) | ||
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