I had some calls I had to make,
But thought, "They’re fine, they’ll have to wait."
The bills stacked up, a looming pile,
Yet I ignored them for a while.
The bank was waiting for my cash,
But I just left it in my stash.
The accountant called—once, then twice,
I dodged their emails (not so nice!).
"I’ll do it later," I’d declare,
Then business woes filled up the air.
A late fee here, a lost sale there,
Yet still, I acted unaware.
But business doesn’t run on dreams,
It needs some action, plans, and schemes.
So take that step, don’t stall or hide—
Or watch success just pass you by!
Provisional tax is IRD’s way to collect income tax in instalments throughout the year, rather than in a lump sum at the end. A lot of kiwi business owners struggle with this concept as they believe they are paying tax in advance, however what it means is you are paying tax as you earn the income.
Paying as you earn helps smooth out cash flow and ensures you're staying on top of your tax obligations before it becomes an unmanageable debt!
20 Niven Street, Onekawa, Napier 4110
