Best tax refund firm revealed in Canstar Blue Awards
Nelson tech firm mytax.co.nz has been named the winner of the Canstar Blue Consumer Satisfaction Award for Personal Tax Agent 2016.
MyTax is an IRD-approved online tax agent that helps New Zealanders recover outstanding tax refunds. It employs more than 40 Nelson staff.
The Canstar Blue nationwide survey gave the company a near perfect score of 5-star ratings across the board.
The survey showed that around two thirds (63%) of New Zealanders regularly receive a tax refund when applied for.
“For many Kiwis approaching the IRD can be a daunting prospect, but organisations such [MyTax] were created to streamline the process by developing a web-based application system,” says MyTax chief executive Lester Binns.
The company now provides services for more than 350,000 customers throughout the country.
“Part of the success of our business comes from simplifying a process which is unfamiliar to most of us,” Binns says.
“While many of us are often owed money, more than four out of every ten (43%) New Zealanders do not realise what qualifies them to receive a refund,” he explains.
“If our clients have earned wages or a salary in New Zealand during the past five years, we are able to check if they’re owed a tax refund by utilising our accounting systems that are linked to the IRD,” says Binns.
“Often we find that our clients have overpaid their tax and part of our role is to help them get their money back.”
Binns says in his experience around 48% of those who receive a refund are likely to treat themselves to luxury items rather than save or invest the money.
“The largest refund we have recovered on behalf of a client through our mytax.co.nz website was $48,000,” he adds.
The survey also showed that when it comes to choosing their tax refund provider, consumers are driven by value for money, in terms of is it worth what they paid for the service (36%), ease of application (21%) and the quality of advice provided (15%).