FREQUENT QUESTIONS

A Tax Agent is any individual, company or partnership who is registered with the IRD for the purposes of filing tax returns, to IRD, on behalf of NZ taxpayers.

You can apply now for your 2023/2024 tax refund.

2023 tax year: 1st April 2022 to 31st March 2023.

Income confirmation are expected to be sent to clients emails in May, following the end of  the tax year. Once the client has confirmed their income, My Refund will be able to continue processing their tax return.

Finding out if you are owed a tax refund is easy.  You will need your IRD number, a form of identification, payment details, and to answer some simple questions about your tax situation.

The quickest way is to complete our single page online application using a NZ drivers licence for identification.

Using an alternative form of identification? Complete the online application. You will also need to supply a copy of your identification and a signed Identification Verification Form.

Once you have applied, My Refund will do the hard part and assess your tax refund entitlements to gain you the maximum tax refund.

Additional documentation may be requested, this information is needed to ensure we have assessed your tax situation accurately.

An IRD number is an unique eight or nine-digit identification number that IRD issue to you.

You can find your IRD number in any of these places:

+ on your payslip
+ from your employer
+ from financial or government statements
+ Kiwisaver
+ Bank
+ End of year investments
+ Working for Families
+ Student loan
+ Child support
+ from your bank
+ by contacting Inland Revenue
+IRD Website 
+ previously a My Refund client, contact us.

Our aim is to ensure that your tax refund and any other money owed to you will be paid within 5 working days to your preferred payment method, once My Refund Limited has received your funds. You will receive email notification when your payment has been made.

Depending on your preferred payment method, will then depend on how fast your refund gets to you;
Payment Via Direct Credit – 1 to 2 Working days to appear in your account.
Payment Via International Money Transfer – 10 Working days to appear in your overseas account. *$45 IMT fee applies 

Click here to provide your International Money Transfer details now. 

To confirm/update your preferred payment method contact our customer service representatives.

*Please Note: These time frames may vary, should information be incorrectly provided to us and/or IR require further information and/or your return type. Working days are Monday to Friday. Payments will not be completed on a weekend or a public holiday.

If you already owe tax from a previous assessment, you will be required to pay this bill by IRD's due date to avoid any additional late payment penalties.

Our clients usually have until April the following year to pay any tax owing.

Any future refunds will usually be transferred by Inland Revenue to the tax arrears first before any remaining balance is refunded. If our assessment indicates that you have not paid enough tax we may not file your return before discussing your obligations with you.

You need to contact Inland Revenue directly to arrange payment/s to pay your bill.

Learn more about paying your tax bill here

There are many reasons why you might need to file an IR3.

+ You have previously received untaxed income of some kind eg. self employment, rental income, or contractor income
+ An IR3 was filed, or is overdue from a prior tax year.
+ Inland Revenue suspect that you have received income from self employment, cash jobs or contract work.
+ You are a shareholder in a company, a partner in a partnership or a beneficiary of a Trust
+ You have

 that will reduce your tax liability
+ You received (or applied for) a covid wage subsidy, resurgent payment, a covid support payment or applied for a covid small busines loan
+ Have overseas income or have traded shares.
+ You have sold a property that is subject to the Brightline Test

If you have received any untaxed income, you may also be able to claim a variety of expenses that will reduce your tax liability.

To receive an update on your tax refund application you must provide correct and current contact details on your application. If your details have changed since your application update them now. A regularly checked email address is the best method to receive regular updates and resolve any pending queries. If email contact is unsuccessful, we will attempt to contact your phone number. You must confirm security questions with our customer service representatives to access your account details. This is for your protection. Once you submit an online application you will receive an email with a confirmation of application details. Once My Refund reviews your application you will receive an email update on your tax refund application within 24 hours. This update could be requesting additional information needed to continue processing your application or to advise of your result. If you are unsure on the status of your application you can contact us now and a customer service representative can review your account and update you on your tax refund application or your current tax situation.
Yes, you can still receive your refund if it exceeds your debt. If you do have arrears with Inland Revenue, they will offset your refund towards your outstanding account. Unfortunately, we cannot stop this process from occurring but we will let you know if Inland Revenue do transfer your refund. You can look at your tax refund as an easy way to reduce your debt if you are in this situation, so don't be afraid to apply now. Should you wish to discuss your child support debt or payments, please contact Inland Revenue directly.

Inland Revenue Department automatically transfers any refunds to accounts with money owing to previous years. You can contact the IRD if you have further queries regarding the arrears.

The Bright-Line Property Rule (also known as the "bright-line test") is a law that determines if tax needs to be paid on profits made when a property is sold. It does not apply to properties acquired before 1 October 2015.

Like a capital gains tax, the bright-line rule calculates the difference between what you bought and sold a property for. It then applies an income tax charge on qualifying homes.

The bright-line rule will not catch you if you buy a home and own it for over ten years unless your main business activity is buying and selling houses. Any gains from the sale of residential property bought and sold within a defined period will be deemed as taxable, with the exception of the main family home, inherited property and property transferred as part of a relationship property settlement.

Yes, you can apply for a tax refund In fact, working part of the year can mean you are more likely to be eligible for a tax refund. If you have closed your New Zealand bank account, we can also make an International Money Transfer (IMT) to your overseas account. To speed up your application please ensure you provide acceptable ID and the date you left New Zealand on your application or contact us to discuss further.

If we receive mail on your behalf from Inland Revenue, we will review the correspondence and send you an email notification.

If we do not hold your email address we will forward your letter to the address held on file.

Needing a copy of your summary of earnings? No need to contact Inland Revenue, contact My Refund to receive a copy of your summary of earnings.

It is important that you keep your personal details updated with My Refund Ltd to ensure you stay informed about your current tax situation.

Yes. Anyone can talk to IR about their own tax returns.

Remember if you owe them money you will be obliged to pay it.

IR may suggest you speak to an accountant or tax agent such as ourselves. 

Simply complete this form or you can contact us to advise you no longer wish to use our service. We will update our records and remove our authority to act. You must confirm security questions to allow us to action your request to stop our service.

Alternatively, you can contact Inland Revenue directly and inform them that you wish to remove My Refund's authority to act.

It is important that you update your bank account number and contact details with Inland Revenue. Failure to do this can result in your future refunds or IR correspondence to be sent to My Refund in error.

Please Note: Should you make your request via IR, we may contact you to confirm the removal of our service was at your request. If it was not at your request, simply reapply to rejoin.

You can view our fees with the FEES section of the TERMS & CONDITIONS page.

When My Refund is reviewing your tax entitlements you may be requested to send in copies of additional information or documentation.

Examples of requested information/documentation:

+ Photo ID – Identification verification form
+ Donation receipts
+ Interest/dividend statements
+ Working for Families details
+ Kiwisaver statements

It can at times be difficult and time consuming to obtain these copies. You can give My Refund authority to contact these organisations and obtain these copies on your behalf. Please contact our customer service team for further details. 

1. Scan the information or snap a photo on your smartphone

2. Send it from your device straight to My Refund Ltd
Send us a message through our website and select your photo/file
+ Attach your photo/file and email info@myrefund.co.nz
+ Chat live with My Refund and send your photo/file through our live chat service

Prefer to send your information/documentation through the post?

+ Our PO BOX is Free Post

PO Box 6490
Christchurch 8442

You can enter your licence details on your application  and we will verify this information electronically through a third party authentication service (Veda NZ). This is the quickest form of ID to use to keep your application moving for your tax refund.

Drivers Licence details required:

+ Licence Number (5a)
+ Licence Version (5b)
+ Exact names as they appear on your licence

Photo identification other than a NZ drivers licence requires you to send in a clear colour copy and a signed Identification Verification Form

+ NZ Passport
+ Kiwi Access Card
+ Overseas Passport & Visa
+ Firearms/Dealers Licence
+ International Drivers Permit
+ New Zealand Certificate of Identity (issued by the Ministry of business, innovation and Employment or Department of Internal Affairs).

If you are under 16 years old you will need parental authority prior to the processing of your application.

What you need to provide:

+ A form of acceptable ID
+ A birth certificate

What your parent/guardian needs to provide:

+ A form of acceptable ID
+ Signed statement of their approval of your application
+ Alternatively, they can co-sign an Identification Verification Form 

Without this additional authority you will need to reapply after your 16th birthday.

Yes, all our clients’ information is kept confidential.

As a registered tax agent with Inland Revenue we are bound by the Privacy Act 2020 to protect your information.

We will never disclose your information without your expressed consent except to Inland Revenue when requested.

For this reason, you will be asked to verify security questions with our customer service representatives prior to the disclosure of your account records.

If you would like to nominate a relative or a friend to have authority on your account you will need to provide consent.

Complete the Nominate Authority form and send into My Refund.

Alternatively, contact our customer service representative to receive the form via post or complete the verbal authority steps.

What if they change?

We understand life gets busy, but without your current contact information it can create delays in you receiving your refund.

When your details change send us a message online or contact us with your updated details.

This means we can keep you updated and informed on your tax situation.

There are expenses that can be claimed against your income that can be included in your personal tax summary to increase your refund.

These include:

+ Tax return preparation fees
+ Income Protection Insurance premiums
+ Commission on interest or dividend income (not bank fees)
+ Certain fees associated with investments producing taxable income
+ Business Expences (attach business expense list link)

If My Refund Ltd processes your refunds year after year, we will automatically include our preparation fee from the year before as an expense to increase your refund. If you’re wanting to claim expenses other than our preparation fee, you will need to send My Refund documentation of these expenses.

Every individual has an unique tax situation. Working 1 extra hour in a week, an unpaid day off or changing jobs can change your tax situation.

Answering the questions about your income for the past 5 years in your application assists in the determination of your current tax situation.

Various factors that can affect an individuals tax situation are:

+ Worked part of the year
+ Received a lump sum payment (such as a bonus)
+ Has more than one employer
+ Have expenses to claim
+ Tax credit entitlements
+ Working for Families entitlement
+ Using the incorrect tax code
+ Self-employed, rental or untaxed income
+ Low prescribed investor rate (PIR rate).

Yes you can apply for a tax refund.

Working for Families is delivered by Work and Income or Inland Revenue. A tax credit paid to many thousands of New Zealand families to makes it easier to work and raise a family.

While Working for Families is separate to your taxable income, the payments you receive throughout the tax year is based on an estimated total family income you have provided to either Work and Income or Inland Revenue. If your family or income situation changes during the tax year, inform your working for families provider immediately.

At the end of the tax year...
To process your income tax refund, a 'square up' calculation with your actual total family income is required to be completed on your working for families payments to determine if you have been overpaid or underpaid your working for families entitlement.

You can file tax returns for the past 5 tax years, if you have not already. However, in some special circumstances we are able to claim tax credits for up to 8 years.

If you receive working for families payments, My Refund may advise you that to complete your tax refund, your partner is required to file their tax return.

This is because your Working for Families 'square up' calculation is unable to be completed without your actual total family income. Your partner will need to complete their tax return to enable Inland Revenue to determine your total family income and continue with the square up calculation before we can complete your tax refund.

Your partner can apply with My Refund, or contact us once your partners return has been completed.

All income must be declared to determine your current tax situation. Each type of additional income received has a different impact on your tax situation.

Examples of additional income:

+ Self employment
+ Partnership/Company
+ Shareholder
+ Rental Income
+ Trust Income
+ Untaxed Income
+ Sold a property within 10 years of purchase (Bright-Lines Property Rule)

It can affect:

+ The type of return to be filed (ITA or IR3)
+ What information needs to be supplied
+ Initial tax refund calculations
+ Situations where My Refund is unable to assist you.

Ensure you disclose all types of additional income in your application and a customer service representative will be in contact to discuss how the additional income affects your tax situation and what you need to supply to continue processing.

Your KiwiSaver investment earnings are taxed as it is another source of income.

When you register for KiwiSaver you must supply a tax rate, this is referred to as a prescribed investor rate (PIR). The PIR you provide is based on your total income from all sources. Your KiwiSaver provider will send you an Annual KiwiSaver Tax certificate at the end of the tax year. It will provide a summary of your type of scheme, taxable income earnings from your investment, any tax credits and tax paid figures.

There are two schemes your KiwiSaver scheme can be held in.

+ A widely-held superannuation fund - your investment earnings will be taxed at 28%.
+ Portfolio Investment Entities (PIEs)
+ All of the KiwiSaver default schemes are PIEs

> Portfolio Investment Entities (PIEs) have four prescribed investor rates based on your total taxable income:

> + Less than $14,000 = 10.5% PIR
> + $14,000 - $48,000 = 17.5% PIR
> + More than $48,000 = 28% PIR

If you do not update your PIR with your KiwiSaver provider when your income situation changes, it can result in complications when processing your tax refund application.

If you give a PIR that is too low, you may need to file a tax return and it may reduce your tax refund or you may be responsible for paying any additional tax

If your PIR is too low, My Refund will contact you to discuss and request a copy of your end of tax year investment statement. Once you have a copy of the statement please send into My Refund Ltd. Need help to obtain these statements?"

YES! Donation must have been made in the last 4 years.

A donations return is a separate return from your income tax refund.

Donation tax credit criteria:

+ Greater than $5
+ Donation made to:
+ Approved donee organisation
+ School donations
+ Kindergarten donations
+ Approved NZ religious organisation
+ Valid receipt
+ Your name
+ Amount and date
+ Statement that it is a donation
+ Signature of authorised person
+ Name of donee organisation/school

Meet the criteria? Send your proof in now.

Yes, we can still file any available tax refunds for you even if you haven’t worked for the full tax year.

In fact, working part of the year can mean that you are more likely to have overpaid your tax and therefore have a refund. Apply here to find out.

My Refund will contact you if there is a period of missing income that will delay the process of your refund.

Yes, you can apply for a tax refund.

It is a common misunderstanding that short term work visits in New Zealand or income under a certain amount are entitled to 100% tax back.

You are still required to meet your tax obligations on your New Zealand earned income. However, you are more likely to be eligible for a tax refund if you have only work part of a tax year.

To speed up your application please ensure you provide acceptable ID and the date you arrived and/or left New Zealand on your application or contact us to discuss further.