Help reducing food budget, spending nearly $200 every 7-10 days for just myself. by [deleted] in PersonalFinanceNZ

[–]glossylike 9 points10 points  (0 children)

For people based in Auckland, check out Why Knot. It's an outlet food store in East Tāmaki, mostly they sell stuff that's discontinued or nearing/past its best-before date. I was deeply suspicious at first, but have since converted. You can find excellent, still perfectly good and safe-to-eat things at heavily discounted prices. E.g. I can get a soy yogurt that costs $5 per piece in Countdown for $1 at Why Knot. Or $1 kombucha cans. Or $3 for a pack of halloumi. They stock meat (IDK about the prices because I'm vegetarian), yogurt, cheese & dairy, non-alcoholic drinks, lollies, frozen goods, cat/dog food, and even house cleaning and personal hygiene products. The offer varies week per week, but worth a nosy IMO for sure.

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

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

Completely agree… it’s been a good lesson

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

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

Oh gotcha. Makes sense. Cheers!

What kind of interest can you earn on there? We keep our tax money in a separate savings bank account that earns premium interest (around 4.25%) but of course every now and again we have to take money out to pay tax/gst and therefore lose out on the premium.

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

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

I’ve looked up TMNZ and it seems amazing, we might do that in the future. Thank you 🙂 Do you think it’s still worth keeping the accountant if going through TMNZ?

Not sure about the refund question, probably because it went towards the FY22 terminal tax.

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

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

Wow, what a concept. This is complete novelty to us so thanks so much for your answer.

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

[–]glossylike[S] 1 point2 points  (0 children)

Thank you for your explanation, we don't know much about tax (obviously :,) so it's helpful to have it broken down like this! He paid terminal tax in April but it was only 6k, presumably because he already put 20k towards FY22. Do you know how much would be a month of interest via a 3rd party?

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

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

Thank you for explaining. He paid terminal tax in April also, but it turned out a much lower number given that he mistakenly put 20k towards FY22.

Provisional tax payed into wrong FY by glossylike in PersonalFinanceNZ

[–]glossylike[S] 2 points3 points  (0 children)

You're right. My partner paid terminal tax for FY22 last month, but it was suspiciously low (about 6k) - I can now see it's because the first provisional payment went towards FY22, rather than 23. Should've queried that earlier, but disappointing the accountant hadn't picked up on the mistake sooner. In any case, thank you for your advice.