IRD
I am currently sitting waiting for someone from Inland Revenue to answer their phone, an estimated 14-to-21-minute wait. I have just filed my tax return for the 2022/23 year and here in lies the problem. Whilst their clever little website is quick to calculate all the extra tax that I owe, from my $2000 extra income I earned above the pension, they have failed to take into account the expenses which would offset this income, and actually probably give me a refund. This is stressful. Surely a website that is so quick to calculate the tax I owe, should be just as quick to deduct the expenses. They even went as far as asking me if I wanted it direct debited from my account now. No. Not when I feel they owe me.
I have just had a preliminary check, a person, asking for me to verify my IRD number. Unfortunately, she is unable to help and is putting me through to the team who can. I wasn’t told how long this second wait is but so far it is 17 minutes all-up.
I always found it easier to file my return by hand, printing off the necessary forms, placing them in an envelope and sending them off. This way is supposed to make it easier for everyone concerned but unless one feels it is accurate, then that is not the case. As I say, the website was quick to calculate my extra income, and the tax I would need to pay, but didn’t want to marry this with the expenses that would offset this income.
21 minutes now.
Years ago, when I went into business, I visited the Inland Revenue department to find out what I would need to do regarding my tax obligations. Initially I asked a young accountant to file my return for me, then employed an ex-Inland Revenue employee who was advertising his services for small businesses. After filing my return once, he assured me I could do the job myself and showed me how. I have filed my own returns since.
I was so happy reaching retirement, believing that would be the end of my book keeping, but having written another book and receiving income from this and holding a workshop, I have found this is still a necessary task.
I have just completed my conversation with a lovely woman from IRD. Fifty one minutes all up to sort the problem, which appears was my mistake. When I entered my income and later expenses, I expected the computer would calculate the difference. But I should have already subtracted the expenses from my income and entered a minus amount, rather than putting the positive income and later the negative expenses. The woman was very patient with me, including when I entered my income for the second time, forgetting to put a negative sign in front of it. However, it is done now. I also had to include a more detailed assessment of all my expenses due to the fact they equaled more than my income. But so far, it is looking good, with a refund rather than a bill.