If you receive a 2014 income tax assessment with an amount due next year, you will have more than five months to pay this amount to the Tax Administration. In fact, on top of the standard payment period of six weeks, you will automatically be given an additional four months.
Intervention
For many people, next year's 2014 income tax assessment will be higher than expected. This is mainly because the Tax Administration has not been able to process the phasing-out of income-related (tax) rebates in the systems in time. Employers have also not been able to take some tax changes sufficiently into account as a result. Consequently, many people will face an additional payment next year. There has been a lot of fuss about this. That is why there is now a concession in the form of longer deferral of payment.
Longer payment period
Anyone who receives a 2014 income tax/ national insurance contributions assessment due will automatically be subject to an extended payment period. This includes not only the additional payment amount, but the entire amount of the assessment. The longer payment period is four months and is in addition to the standard payment period of six weeks. No recovery interest needs to be paid during this period. This does not apply to any tax interest payable.
If, in addition to an income tax assessment 2014, you also receive a healthcare insurance act (ZVW) assessment, the longer payment period also applies to this assessment.
Date
The extended payment period applies to 2014 tax assessments payable with a due date between 1 May 2015 and 30 June 2016. If you receive a payable 2014 income tax assessment with a date after 30 June 2016, the regular six-week payment period will again apply.
Make sure you pay within the extended period. This is because if you do not pay within the extended period, you will still owe recovery interest from the date the standard six-week payment period expires.