IRD refunds

If the IRD sends you money you’re not entitled to, don’t just assume it’s right. You’re not entitled to keep it. You can get tax refunds in two ways. It can be lodged to your bank account or paid by cheque. Inland Revenue says you have 20 working days to give them back overpaid tax or they’ll penalise you. If you don’t check your bank account often and a tax refund slips into it, you could easily get caught. You might be better to get your refunds by cheque so you can make sure they are right before banking them. When returning money to IRD, be sure to give it all the information it needs to put the money back in your correct account, for example, GST June 2018 GST number etc.

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