If you receive weekly or fortnightly Working for Families payments and you or your spouse / partner have received business income (ie income other than wages and bank interest) you need to send IRD evidence of your business income for the 2015/16 year before 31 March 2015 or your payments will stop after this date. Your income evidence can be one of the following:
– 2014 income (only if you expect it to be similar in 2016). Contact IRD and ask them to use this information.
– 2015 year financial accounts (can only be done after 31 March ie end of financial year)
– 2016 budgeted accounts
If you need to provide budgeted accounts and find it a bit tricky, give us a call and we can prepare budgeted accounts for this purpose. We will use your latest annual accounts, ask you some questions about what has changed and incorporate those changes.
If you or your spouse or partner have stopped operating a business you need to call IRD so they can update their records.
You can contact IRD by phone 0800 227 773, through your myIR secure mail or post to Inland Revenue, PO Box 39090, Wellington Mail Centre, Lower Hutt 5040.
If you do not get the information to IRD in time and they stop your payments, you need to ask them to re-start your payments when you send them the information required.