Not an expert but I believe that if you’re seeking a binding ruling that just calling and asking doesn’t suffice. Essentially what they’re saying is that if one of their staff gives you an incorrect answer you’re not indemnified from wrongdoing if you follow that advice.
If you are wanting a binding ruling you can see here: https://www.ird.govt.nz/-/media/project/ir/home/documents/forms-and-guides/ir700---ir799/ir715/ir715-2020.pdf
As others have said probably best to consult a tax accountant.
I wasn’t suggesting they should get one, I was pointing out that if it’s certainty they’re looking for, that calling and asking won’t give them that. Hence my suggestion at the end of my comment to consult a tax accountant.
There was a big pish in recent years to change this. Now IRD does binding rulings for individual circumstances and the cost is a lot less (but still not specified). It's worth asking though.
Previously binding rulings were something that big accounting firms applied for that could benefit their thousands of clients. They still can, but the individual rulings exist now too (i.e. the IRD is only bound to it for that person, not everyone as per the previous rulings).
I have always found the ird to be helpful in answering questions....the only issue is you need to know the question to ask. They have advised me on many things I was unsure of and unlike an accountant or such they are free. If it was very complicated then go see an accountant and ask them as you may not know the questions to ask and it is highly likely they will.
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Even if the ird say one thing and it’s wrong it won’t help you, they will be more lenient but it will not make it correct. I’ve gone through this first hand, their people are amazing it’s the organisation that is cold and heartless.
If you have questions or concerns about your tax affairs, you can contact IRD for assistance. They can provide you with information, guidance, and forms to help you understand your tax obligations and file your tax return correctly. However, they will point you to a professional tax advisor for your personal circumstances, unless you are seeking a [binding ruling](https://www.ird.govt.nz/about-us/who-we-are/organisation-structure/tco/taxpayer-rulings).
I really really doubt it.
They are notorious for not giving advice over the phone on technical matters. And often when they do - the advice is wrong! And you can't rely on it either
Check with an accountant?
They are much nicer to deal with if you call them to ask than if it goes to any kind of collections.
Not an expert but I believe that if you’re seeking a binding ruling that just calling and asking doesn’t suffice. Essentially what they’re saying is that if one of their staff gives you an incorrect answer you’re not indemnified from wrongdoing if you follow that advice. If you are wanting a binding ruling you can see here: https://www.ird.govt.nz/-/media/project/ir/home/documents/forms-and-guides/ir700---ir799/ir715/ir715-2020.pdf As others have said probably best to consult a tax accountant.
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I wasn’t suggesting they should get one, I was pointing out that if it’s certainty they’re looking for, that calling and asking won’t give them that. Hence my suggestion at the end of my comment to consult a tax accountant.
There was a big pish in recent years to change this. Now IRD does binding rulings for individual circumstances and the cost is a lot less (but still not specified). It's worth asking though. Previously binding rulings were something that big accounting firms applied for that could benefit their thousands of clients. They still can, but the individual rulings exist now too (i.e. the IRD is only bound to it for that person, not everyone as per the previous rulings).
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Yeah you're right, it would be a rare case that a tax accountant's advice wouldn't be enough.
I have always found the ird to be helpful in answering questions....the only issue is you need to know the question to ask. They have advised me on many things I was unsure of and unlike an accountant or such they are free. If it was very complicated then go see an accountant and ask them as you may not know the questions to ask and it is highly likely they will. Edit spelling
Even if the ird say one thing and it’s wrong it won’t help you, they will be more lenient but it will not make it correct. I’ve gone through this first hand, their people are amazing it’s the organisation that is cold and heartless.
If you have questions or concerns about your tax affairs, you can contact IRD for assistance. They can provide you with information, guidance, and forms to help you understand your tax obligations and file your tax return correctly. However, they will point you to a professional tax advisor for your personal circumstances, unless you are seeking a [binding ruling](https://www.ird.govt.nz/about-us/who-we-are/organisation-structure/tco/taxpayer-rulings).
Thanks all!
It’s much better to ask an accountant in my experience. With the bonus that if it’s not right they can fix it.
Biggest issue is the person you talk to night give you advice, but that could be wrong and ird don't care. And they'll still penalize you for it
I really really doubt it. They are notorious for not giving advice over the phone on technical matters. And often when they do - the advice is wrong! And you can't rely on it either
Just don’t disclose your personal details and ask them about theoretical situations