26 September 2021
We're aware of an issue where some credit transfers requested in returns are not being actioned.
This is happening when we haven't finished processing the return in the destination IRD number, preventing a credit being transferred into that period. If the credit cannot be transferred, it is then refunded back to the customer.
We appreciate this then causes additional work for everyone to get the credit back to us at the correct effective date and we're sorry for the inconvenience this causes.
The solution will be complex and it will take some time for us to resolve.
In the interim, if you are going to file a return with a request for a credit transfer, please wait until the return in the destination period has been processed. For example, if the transfer is to income tax for another IRD number, wait until you've received either a Return acknowledgement or Notice of assessment before you submit the return.
We'll provide an update here once this issue has been resolved.
Certain criteria must be met before a request for a credit transfer on a tax return can be processed. You can find more guidance in 'Requesting transfers'.
New Zealand Inland Revenue published this content on 25 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2021 20:31:04 UTC.