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Link: Seeking better science
May. 14th, 2010 11:56 amhttp://publicaddress.net/default,6624.sm
Some analysis of the gubermint's recent 'increase' in science funding.
Some analysis of the gubermint's recent 'increase' in science funding.
May. 14th, 2010
Fun and games with IRD and student loans
May. 14th, 2010 05:46 pmSo I received a nasty surprise in the mail today - a bill for ~$1300 in overdue Student Loan payments and penalty charges from the 2007-2008 and 2008-2009 years.
a) I rather thought that was taken into account with my income tax, which may mean my accountant stuffed up
b) Even so, I've only just given him the paperwork for 2008-09. There is no way my income was assessed in time for payment due on the 4th of April 2010. (Nor for that matter, the income for the date the 2007-08 came due). Apparently this is one of the curses of being self employed - there is no way I can avoid at least 1 month of late fees.
I've been on the phone to IRD and they agree something is amiss in that they also have no record of sending me any previous notification that payment was due. So they suggest I might be able to get the penalty charges removed on written application.
Apparently because I'm on Provisional tax the amount I am due to pay for being above the threshold is also calculated off my provisional income (I may have another $1000+ in payment due which doesn't appear on this statement - and which will change when my income for the year is formally assessed but will attract overdue charges in the meantime).
So my current plan is just to upshift paying my loan off from 3rd on the priority list to first, dump the appropriate sum of money across from the mortgage and accept that the interest it will attract there is the cost of not having to deal with this every year or two.
Unfortunately because of the circumstances the helpdesk guy wasn't able to tell me exactly what amount that would be (with the 10% bonus for voluntary repayment) - they have to put a specialist team on it. Who will get back to me in 5-10 working days.
~~~
This arrived while I was trying to calm down from a work related very aggravating situation this morning. It is on top of the unexpected ACC bill due later this month and vigorously rogers my financial forecast for the next 12-24 months. I am not a happy camper.
a) I rather thought that was taken into account with my income tax, which may mean my accountant stuffed up
b) Even so, I've only just given him the paperwork for 2008-09. There is no way my income was assessed in time for payment due on the 4th of April 2010. (Nor for that matter, the income for the date the 2007-08 came due). Apparently this is one of the curses of being self employed - there is no way I can avoid at least 1 month of late fees.
I've been on the phone to IRD and they agree something is amiss in that they also have no record of sending me any previous notification that payment was due. So they suggest I might be able to get the penalty charges removed on written application.
Apparently because I'm on Provisional tax the amount I am due to pay for being above the threshold is also calculated off my provisional income (I may have another $1000+ in payment due which doesn't appear on this statement - and which will change when my income for the year is formally assessed but will attract overdue charges in the meantime).
So my current plan is just to upshift paying my loan off from 3rd on the priority list to first, dump the appropriate sum of money across from the mortgage and accept that the interest it will attract there is the cost of not having to deal with this every year or two.
Unfortunately because of the circumstances the helpdesk guy wasn't able to tell me exactly what amount that would be (with the 10% bonus for voluntary repayment) - they have to put a specialist team on it. Who will get back to me in 5-10 working days.
~~~
This arrived while I was trying to calm down from a work related very aggravating situation this morning. It is on top of the unexpected ACC bill due later this month and vigorously rogers my financial forecast for the next 12-24 months. I am not a happy camper.
