Moving on from cheques Cheque usage continues to decline every year. From 1 March 2020, Inland Revenue will no longer be accepting cheques There are many different ways to pay – electronically or in person.
Here’s a summary of payment options: • myIR: You can pay by direct debit and make debit card and credit card payments securely through myIR online services. Visit their website (ird.govt.nz) and login or register for myIR. • Online banking: You may be able to make payments using online banking. Contact your bank for more information. • Credit or debit card via the IRD website: Use your credit or debit card to make online payments through the website. Visit ird.govt.nz/pay. • In person at Westpac: Pay by EFTPOS or cash at a Westpac branch or Smart ATM. • Money transfer: If you are overseas you can the IRD using a money transfer service. Search for “make a payment” on the IRD website for more information.
Charges may apply for some payment options. In the meantime, if you would like more information visit their website at ird.govt.nz/pay.
Choosing a new business bank account?
A business bank account is an essential requirement for any business. But with so many banking providers out there, how do you know which business account to choose?
The key is to know what you require from a bank account, and to choose a bank that understands the banking, financial and funding needs of your business.
Choosing an account that fits your business needs
Whether you’re a new sole trader or an established limited company, it’s advisable to maintain a clear divide between your personal and business money. So it’s vital to open a business bank account, giving you a separate account to handle your business transactions.
The choice of available accounts can be baffling, with the big corporate banks and high-street providers offering a range of accounts, and new digital challenger banks also adding to the available options for business owners.
When looking for a business account, consider:
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