At Beany, we know that lots of people can find tax overwhelming, or a cause of anxiety and uncertainty.
Your Beany dashboard shows exactly what tax you need to pay, and when it is due. We are the first accounting firm in New Zealand with a direct data link to Inland Revenue!
Your Beany page communicates directly to Inland Revenue, so the amounts you see are in real time and are complete. It reports each day and displays information directly on your personal Beany page – what you need to pay and the due date. You can set it up to receive reminders as well.
Tax types covered
Beany shows all the tax types that you need to make payments for, excluding payroll taxes. With income tax, Beany shows everything that Inland Revenue currently has recorded that you need to pay. This is also checked by your personal Beany accountant at provisional tax time.
Income Tax
If you haven’t filed a tax return and you’re not a provisional taxpayer, then Inland Revenue doesn’t know how much you owe. Beany therefore cannot display upcoming payments. Once your accountant has worked on your tax return, they’ll have a pretty good idea of what you’ll need to pay, so your Beany page will display this before the return has been filed.
If you’re a provisional taxpayer, Beany will show you the date and amount of provisional tax due in each of your instalments during the year, and any final amount of terminal tax to pay. Provisional tax depends on the most recent tax return filed. The earlier you get your information to your accountant, the more time you’ll have to talk about tax strategy and plan for upcoming payments.
Other tax types
Beany looks after more than just income tax.
- Student loan repayments are calculated in the same way as provisional tax. FAM is included once your tax return is filed and assessments made by the IRD
- Once your returns are filed for GST, FBT, and RWT, Beany will show you the amount and due date.
- ACC is not administered by Inland Revenue, so Tax-iQ cannot show payments.
If you’re an employer, Beany cannot display payroll taxes at this time. This is simply because Inland Revenue doesn't provide that data through any feeds, so we’re unable to show it to you.
When myIR and Beany are different
There are four main instances where you’ll could see different figures in Beany and on myIR.
- We're in the process of preparing your financial statements and tax return
- You're absolutely positive you've made the payment but different amounts are showing due
- Your previous tax return hasn't been filed
- Payment plans
We cover these four circumstances in more detail via our separate blog - Beany or myIR showing unexpected payments due?
FAQs
Are payment plans and instalment arrangements with the IRD included?
Yes!
The IRD sends us confirmation of the payment plan and we update the information in Beany for you. We email you a copy of the confirmation, and the letter is also uploaded into your Beany page.
If you've made an arrangement to pay off your taxes with Inland Revenue and your Beany page is not displaying this correctly, please get in touch with our friendly Support team with copies of any emails or letters you have from the IRD confirming the plan. We can get these loaded to your page so that your tax looks the way it should.
What if my tax figures don’t look right?
If you see something unusual or unexpected pop up on your Beany page, please get in touch with Support via email or phone.
We’ll get back to you as soon as possible – we know how stressful tax can be and don’t like the idea of you worrying about the figures or due dates longer than necessary.
Security - is Beany information safe and confidential?
Absolutely.
We use Google Cloud to store all your data, and it is backed up regularly. We also use strong encryption and firewalls to keep your data secure in transit and when stored.
Our team of clever developers are always working to make sure our system is the gold standard of security and best practice.
Changing Notifications
Beany has a clever feature that aims to keep you safe from late payment penalties and interest at Inland Revenue by reminding you when a payment is coming up or a return is due to be filed.
We know that not everyone needs reminding, so if you’d like to change your notification preferences, click the “You” link at the top of your Beany page and then select Notifications. Here you can adjust whether you receive notifications and reminders to pay.
We are always here to answer any questions or look at tax options for you - just get in touch with Beany Support.