Terms and Conditions for Pay My Tax Services

Transcription

1 Terms and Conditions for Pay My Tax Services 1. Pay My Tax and Tax Management New Zealand Ltd (TMNZ) Pay My Tax is a tradename and service offering of Tax Management New Zealand Ltd (TMNZ). All Pay My Tax Clients are Clients of Tax Management New Zealand Ltd, and are subject to these Terms and Conditions. Use of TMNZ services, including Pay My Tax Services, indicates acceptance of all processes, terms and conditions as outlined herein. TMNZ is a tax pooling intermediary registered with Inland Revenue. 2. Payment Details Clients must make payments either through the Paypal service provided by TMNZ through the Pay My Tax app or website, or to the bank account specified by TMNZ in the payment instructions as part of the Pay My Tax service. Payments must be made to the Bank details as follows: New Zealand Guardian Trust Bank: Westpac Account: Payments should be made in the following format: - Particulars: IRD number of recipient for tax, without hyphens or spaces - Code: Transaction ID - Reference: Taxpayer Name Any payments made directly to Inland Revenue, or to other TMNZ accounts, will not be recognised and may result in the transaction lapsing. TMNZ takes no responsibility for lapsed transactions due to incorrect payments. 3. About Pay My Tax The Pay My Tax service provides Clients the option of requesting a provisional tax payment for a specified date to be transferred to an individual Inland Revenue account, upon payment at a later date. For each Pay My Tax completed transaction, TMNZ underwrites the availability of provisional tax for the specified date. There are two components to the transaction: - Payment of an upfront Fee to secure the order; - Payment of some or all of the face value of the tax that the Client wishes to transfer to an individual account at Inland Revenue. 1

2 4. Pay My Tax Orders A Pay My Tax order may be made on the Pay My Tax app or on the website, paymytax.co.nz. The order will specify a Fee and a Due Date for the Fee. Orders for which the Fee is not paid by the stipulated Due Date will lapse and be considered null and void. An order is not a complete contract and is not accepted until TMNZ confirms the transaction. TMNZ accepts no responsibility for lapsed orders. 5. Pay My Tax Completed Orders TMNZ will confirm the transaction through to the Client upon receipt of the Fee by the due date. A Pay My Tax order is only considered complete once TMNZ confirms the transaction through to the Client. 6. Payment of the Face Value of the Tax Upon payment of some or all of the face value of the tax due, TMNZ will arrange for the transfer of the equivalent face value of tax to an individual account at Inland Revenue, nominated by the Client. A valid transfer will result in the tax showing in the individual account at Inland Revenue as if it was paid on the original Provisional Tax Date specified. The payment of the face value must be received by the specified Due Date for the Face Value, or Maturity Date of the transaction. Late payments will not be accepted. Where a Client does not pay the face value by the due date, the transaction will lapse and the arrangement will end. Where a Client makes a partial payment of the face value, only the amount equal to the partial payment will be transferred to the Client s Inland Revenue account. The remainder of the transaction will lapse and the arrangement will end. 7. Restriction on Client Entitlements The Client has an entitlement to a transfer to a nominated Inland Revenue account of provisional income tax for a specified date, for consideration equal to the face value of the provisional tax, to be exercised on a set date (the Due Date for the face value). The Client has no title or rights to any tax deposited in the tax pool. After the Due Date for the face value to be paid, or Maturity Date of the transaction, The Client does not retain any rights to tax amounts at the specified Provisional Tax Date. 8. Payment Disclosures In accordance with section MBA 4(3) TMNZ advises Clients that the payment to the TMNZ Tax Account does not satisfy any obligation of the taxpayer to make a payment to the Commissioner. A valid tax allocation is required before a tax payment will show in the Inland Revenue account of the Client, and be recognised by the Inland Revenue against that Client. At that time, Inland Revenue will adjust the Client s account records accordingly, including any impact on penalties or use-of-money interest. 2

3 9. Monthly Processes and Cut-off Date The TMNZ monthly processing cycle will typically occur around the Provisional Tax Date. The cut-off date for each monthly cycle, by which date payments or requests for each service must be received, is as per the Pay My Tax app or on the Pay My Tax website (paymytax.co.nz). Requests for Pay My Tax services after this date will not be accepted. 10. Calculations TMNZ calculates the fee and IRD interest savings based on the rates at the time. IRD interest savings are compared to a taxpayer paying the provisional tax directly to Inland Revenue at the New Date to Pay selected. While TMNZ calculates its fee and these savings with due care, TMNZ takes no responsibility for inaccuracies or reliance on the calculation. 11. TMNZ Responsibilities TMNZ has a responsibility to: Provide tax payment services with care and skill; Ensure that the software and TMNZ processes are effective in the provision of services; Do its best to provide highly reliable services, although TMNZ does not guarantee these will be continuous or fault-free; and Advertise cut-off dates and returns on the TMNZ and Pay My Tax websites. 12. Client Responsibilities It is the Client's responsibility to: Follow the TMNZ directions regarding the use of the Pay My Tax services and processes; Meet cut-off dates as advertised on the Pay My Tax web-site and app; Ensure all information provided to TMNZ is correct and complete; Ensure that TMNZ and Pay My Tax services are only used for internal business use. TMNZ and Pay My Tax services must not be used to operate another tax pool, and must not be resold, re-billed or otherwise provided to any other person without written consent from TMNZ; Comply with all laws applicable to use and operation of TMNZ services and processes; 13. Restriction of Liability TMNZ accepts no liability for any of the Client's tax obligations. TMNZ Clients must seek their own tax advice at all times. The ability to transfer tax to an Inland Revenue account is constrained by the Income Tax Act 2007, and only relates to provisional income tax. In some circumstances, the arrangement can be used to purchase other types of tax where an audit ruling has been recently issued. TMNZ has endeavoured to build in safeguards to ensure that Clients are transacting within the specified dates permitted, given their balance date and the tax year to which the tax relates. However, TMNZ accepts no responsibility for transactions that are invalidated 3

4 due to inaccurate information provided by the Client, or for transactions that are refused by Inland Revenue as not being acceptable within legislative limits or for other reasons. TMNZ will make every endeavour to ensure the performance of obligations by the Inland Revenue and Guardian Trust. However, TMNZ will not be liable for any costs or losses of whatever nature that are attributable to, whether fully or partially or directly or indirectly, the actions of the Inland Revenue or Guardian Trust including without limitation: consequential, special; incidental or exemplary losses; damages or expenses; or loss of profits or opportunities. TMNZ will not be liable for the consequences of any requests received after the Due Dates for Fee or for the Face Value of the transaction, whether or not this is due to difficulties with the server provider or software. TMNZ will not be liable for losses due to the Inland Revenue disallowing a tax transfer where the Commissioner considers that the request for the transfer is made for the purpose or effect of tax avoidance. TMNZ will also not be liable for losses or costs due to Inland Revenue making a tax transfer at an effective date later than the Tax DEPOSIT Date. 14. Confidentiality TMNZ reserves the right to use information required about a Client in its communication with the Inland Revenue, as required by the Income Tax Act 2007 and the Tax Administration Act TMNZ will not disclose details regarding the Client unless required to do so by law. The Client must keep confidential any information it receives from TMNZ which it would expect to be confidential or commercially sensitive. Any pricing or processes or legal relationships or software design information must be treated as confidential. A Client may only disclose confidential or commercially sensitive information if required to by law. 15. Software TMNZ remains the owner or licensee of any software used in the provision of business. Clients must not change or interfere with the software in any way, and must not copy any part of the software without written consent from TMNZ. 16. Intellectual Property Rights TMNZ has intellectual property rights in the services, processes, relationships and software access provided to the Client. These rights include all copyright, trade mark and design rights relating to the provision of tax payment services. All these rights are retained when information or services or software access is provided to the Client. Any intellectual property rights arising from any improvement or change to any service devised or made by anyone belongs to TMNZ. 4

5 17. Services Acquired for Payment of Tax The Client agrees that it is acquiring TMNZ services for the purposes of payment of tax under the Income Tax Act 2007 and the Tax Administration Act Services Acquired for Business Purposes The Client agrees that it is acquiring TMNZ services for the purposes of a business as defined in the Consumer Guarantees Act 1993 and that the provisions of the Act do not apply to any services we agree to provide under any written agreement with the Client. 19. Rights and Responsibilities That Continue The end of any agreement between the Client and TMNZ does not affect any rights and responsibilities which are intended to continue or come into force afterwards. These include all rights and responsibilities under this section. 20. Changes to Terms and Conditions TMNZ may change these terms. TMNZ may do this by changing or removing existing terms or by adding new terms. Where this occurs, TMNZ will inform the Client of the changes at least one month before they come into effect. TMNZ will not ever change this requirement. 21. No Waiver Except if TMNZ has waived a right under these terms and notified the Client in writing, no delay or failure to exercise a right under these terms prevents TMNZ from exercising that or any other right on that or any other occasion. 22. Invalidity If any provision of these terms is unlawful and unenforceable, it will be severed from the terms to the extent it is unlawful and unenforceable. The rest of the terms will remain in force. 23. New Zealand Law Applies All TMNZ services are provided under New Zealand law. A Client may only take action against TMNZ in a New Zealand court. 5

6 24. Disclosures In accordance with the requirements to be registered by Inland Revenue as an intermediary, TMNZ is required to provide notice that: TMNZ has administration and information technology systems that: i. Protect the privacy of the personal information and payment details acquired by TMNZ in the operation of the TMNZ Tax Account, and ii. Record the amount remaining at any time in the TMNZ Tax Account that has been contributed by each taxpayer from whom TMNZ accepts payments. TMNZ will maintain and operate those systems as required by the relevant Income Tax legislation. 25. Disclaimer on Website Use The information contained and accessed on this website, and its associated websites, is provided for general guidance on matters of interest only. Whist TMNZ endeavours to provide quality information, we make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this web site and its associated sites. TMNZ does not guarantee that the contents provided are accurate and up-to-date. As tax advice must be tailored to the specific circumstances of each case, and laws are constantly changing, nothing provided herein should be used as a substitute for the advice of competent counsel and the contents provided for in this website are not a substitute for specific advice. The authors and publishers are not herein engaged in providing legal, tax or other professional advices. No responsibility is therefore accepted for persons acting on this information. You should consult with your tax advisor in relation to all tax matters. TMNZ does not guarantee or warrant that the website will be uninterrupted, without delay, error-free, omission-free, or free of viruses. All content on this website is copyrighted and may not be modified, reproduced or publicly displayed, performed or distributed or used for any public or commercial purposes. You may use the information provided for your own personal and business activities and you may give copies to others if you acknowledge the source of the information. You may not sell or exchange for value the information contained in this website. Unauthorised use of any materials on this website may violate copyright, trademark and other laws. Links provided and maintained by third parties are provided as a convenience to our users. TMNZ does not control and is not responsible for any of these sites or their contents. 26. Defined Terms Unless the context otherwise requires, the following terms have the meanings defined in this section: Face Value The amount of a payment received. Guardian Trust/ TMNZ Tax Account The account at Inland Revenue in which Guardian Trust holds tax in trust for TMNZ and its Clients. 6

7 IRD, Inland Revenue: The Inland Revenue Department of New Zealand. Provisional Tax Date: The date stipulated by Inland Revenue that provisional income tax is due to the Inland Revenue. Principals Each of the persons acting as an officer of TMNZ and any principal of TMNZ - i. is not a discharged or undischarged bankrupt; and ii. has not been convicted of an offence involving dishonesty; and iii. is eligible to be a company director. Role of Commissioner of Inland Revenue The Commissioner of Inland Revenue is not required to oversee or audit the operation of the TMNZ Tax Account. Nor is the Commissioner liable for any loss that a person suffers because of the way in which TMNZ operates the TMNZ Tax Account. Tax Avoidance The Commissioner of Inland Revenue may refuse to accept a request for a transfer, or may reverse a transfer, if the Commissioner considers that the request for the transfer is made for the purpose or effect of tax avoidance. Tax allocation A tax allocation converts a tax deposit in the Guardian Trust /TMNZ Tax Pool Account at Inland Revenue to a provisional tax payment by transferring the entitlement to the Client's Inland Revenue account. The transfer must be actioned within 75 days of the taxpayers terminal tax date or if the transfer relates to an audit or voluntary disclosure, within 60 days of the audit or voluntary disclosure being accepted by IRD. A transfer that does not meet the conditions above will be transferred at the date that the tax allocation is requested at Inland Revenue. The New Zealand Guardian Trust The New Zealand Guardian Trust is the holder of the Guardian Trust /TMNZ Tax Pool Account at the Inland Revenue Department and instructs the Inland Revenue to make transfers from this account for the face value of the tax paid by TMNZ Clients. 7