Who gets an automatically issued income tax assessment
Your assessment will be automatically calculated if we have all your income information for the tax year 1 April to 31 March.
We'll send you an assessment if your income is from:
- investments (bank deposits or savings interest)
- a benefit under an employment share scheme.
This includes income from:
- salary or wages
- portfolio investment entities (PIE) including KiwiSaver
- NZ Superannuation
- schedular payments
- income-tested benefits
- interest or dividends
- taxable Maori authority distributions
- benefits under an employee share scheme (ESS).
Your assessment shows if you are due a refund or if you have tax to pay. In some situations we will automatically write-off tax owing.
What you need to do
Check the income tax assessment and tell us about any changes.
You need to tell us about:
- any missing or incorrect information
- any income over $200 (before tax) you received that is not showing on your assessment
- changes to your contact information
- changes to your bank account details
- expenses you are eligible to claim against your income.
You can update your details anytime in myIR.
What happens next
If you tell us about changes, we'll update your account and send you a new income tax assessment.
If it's correct and you have no tax to pay you do not need to do anything else.
Common reasons for paying too much or too little tax during the year
Common reasons include:
- your income changed a lot during the year
- some of your income was not taxed correctly, for example you used a wrong tax code or your prescribed investor rate (PIR) was too low for your KiwiSaver or other portfolio investment entity (PIE) income
- your tax rate or PIR for your investments was changed part way through the year
- small rounding differences each pay, which could result in a small refund or tax to pay
- Employer share scheme (ESS) income that did not have tax deducted
- Your total income exceeded the annual $48,000 threshold for Independent Earner Tax Credit (IETC).
If you're due a refund
We pay refunds from mid-May to the end of July when we process income tax assessments, so not everyone will get theirs at the same time.
We'll pay your refund into the bank account you have us. We'll let you know if we need your bank account details. If you have given us these details you can check they're up to date or change them.
Some or all of your refund may be used to pay debt you have with us. We'll let you know in a separate letter if this happens.
If you think you're due a refund for the 2017 or 2018 tax year, you can check in myIR. You'll need to request a personal tax summary for that tax year. If your personal tax summary shows you did not pay enough tax in that year, you'll need to pay it.
If you have tax to pay
Most people need to pay their tax by 7 February. If you have a tax agent with an extension of time, you need to pay your tax by 7 April.
If you have a non-standard balance date your due date may be different.
You'll have to start paying provisional tax if your tax to pay is more than $5,000.
Learn more about provisional tax and what this means for you.