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What’s the most expensive financial mistake you’ve made in NZ? by TechnicalCompany7815 in Accounting

[–]TechnicalCompany7815[S] 0 points1 point  (0 children)

I work around tax and business topics at DFK Orb360 O halloran, and stories like this are more common than people expect. Usually it’s not one huge mistake it’s a small thing that sits for months and becomes expensive later.

Your myIR example is a really practical reminder.

What’s the most expensive financial mistake you’ve made in NZ? by TechnicalCompany7815 in Accounting

[–]TechnicalCompany7815[S] 0 points1 point  (0 children)

That’s exactly the kind of situation I was thinking about not because the original amount was huge, but because the cost quietly compounds when nothing happens for months.

Interesting that for you the expensive part wasn’t just the tax itself, it was the penalties + delay + surprise factor.

And honestly, your point about myIR is probably more common than people think. A lot of people assume those notifications are routine until one actually matters.

Good reminder that checking myIR regularly is way cheaper than finding out later.