When you sign up to Hnry, you will be asked to add information about any income you’ve earned prior to joining Hnry, in the current financial year. If you have earned any self-employed income, you will be directed to a form which breaks down an estimate of the estimated amount of tax you owe for this income.
You can then choose one of three options of how you would like to manage your tax for this income:
- I have this money set aside already, and I would like Hnry to pass it on to the correct agencies - we will make the necessary tax payments on your behalf (see additional information below)
- I would like Hnry to adjust my tax rates to try and cover the tax I owe - we will artificially increase your Income tax and ACC rates to a maximum of 40% to cover any tax owing
- I would like to handle this outstanding amount by myself - you are agreeing to take responsibility for any taxable income earned prior to joining Hnry and retain funds to pay your taxes at the end of the financial year.
If you select choose the first option:
You will need to transfer the full amount into your Hnry Bank Account, using the Account Number and Payment Reference shown.
You will also be sent an email with this information.
N.B. Unfortunately partial payments are not currently supported
Once you have paid the amount, this will be updated in the 'Payslips' section of the Hnry App as 'Pre-Hnry Tax Payment'.
When you click on the drop down arrow, you can see the breakdown of the tax that has been paid to the relevant agencies.
Note: The tax amounts are an estimate based on the income amount provided during sign up which is why it is important that you provide us with the most accurate information about the income you have earned this financial year.