First things first, we’ll need to know where to pass your payment to once Hnry has deducted and paid your tax. This ensures that you’ll get your payment as quickly as possible.
Have you earned any income this financial year (since 1 April)?
Next, just add in some info about any income you’ve earned prior to joining Hnry. This information helps us further determine the most accurate tax rate to place you on, so that the service can work at peak optimisation for you and so that you won’t end up with a big tax bill at the end of the year.
If you haven’t earned any income at all this financial year, simply click ‘No’, then ‘Submit’ and you’re good to go!
If you have earned income so far this year, we’ll just need to know how much income and the different types of income you’ve earned (schedular payments, self-employed income, PAYE income, and ‘other’).
- Schedular payments refer to payments in which your client or recruiter has deducted tax prior to paying you. In the case of schedular payments, only some tax will have been deducted or paid, so you’ll likely have some tax left to pay at year-end.
- Self-employed income refers to any income you’ve earned through working as a freelancer, contractor, sole trader or as a small business owner. In other words, any income earned outside of a more traditional employer relationship, such as a salary position.
- Salary/PAYE income refers to money you’ve earned from a job in which you receive a regular wage and annual/sick leave, and where your employer is making KiwiSaver contributions on your behalf.
- Other income refers to money earned from dividends, property ownership, sales of shares, trusts, subsidies, income earned outside of NZ, and several others. Here, you’ll just need to add the estimated amount you expect to earn from these other sources of income.
Once you begin to fill in these fields, you’ll start to see the ‘estimated annual income’ section change slightly to reflect your earnings.
The next step is to let us know how you’d like to handle this income: if you’d like to receive a tax quote; if you’d like us to inflate your tax rate to make up for any tax owing; or if you’d like to handle it yourself.
It’s also important here to indicate how you were managing your expenses during the financial year, before joining Hnry – this helps us provide you with the right information on getting expense exports loaded into Hnry.
Confirming Your Income Sources
Declaring all of your income sources to us is incredibly important, as it helps us get you on the most accurate tax rate possible. If we don’t have all of the right information from you, we can’t guarantee that the Hnry service will help you to avoid a big tax bill at the end of the year. This screen is another opportunity to make sure all of your information is up-to-date:
Note: you can always update your income sources in your Hnry Dashboard (‘My Account’ > ‘Income Sources’)
And once you’ve confirmed your email address, you’ll be all set and ready to get paid!
Check out our 'Getting to Know Hnry' guide to familiarise yourself with the ins and outs of your Hnry Dashboard.