Your easy alternative to a big bank overdraft

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A man crossed arms smiling, standing in front of a line of parked semi-trucks

Discover how to access affordable business funding, powered by your provisional tax payments.
*Full details of our terms and conditions and rates are here.

How Taxi keeps your business moving

1

Pay your tax through taxi

Your provisional tax payments are held on your behalf by Government owned Public Trust in a tax pooling account at Inland Revenue. Taxi is able to use these payments to secure access to affordable business funding.

2

Connect to ird

Link your MyIR data with your Taxi account for full visibility of your provisional tax payments. Our partner (IRD-approved tax pooling intermediary Tax Traders) enables your payments to meet both your tax obligations and secure access to business funding. We also work with your accountant (if you have one).

Our 11 year relationship with the ird
3

ACCESS & REPAY FUnds

Access funds for your business whenever you need them. Unlike dealing with a bank, Taxi does not require any financial disclosures. By making your provisional tax payments through Taxi, you gain access to funds. Repayment is flexible and works with your business.

Your rate with Taxi
7.09
%
p.a.
Flexible, easy repayments
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No personal guarantees
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Flexible terms
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How we define and compare our rates

Your Taxi rate is the interest rate you pay on amounts withdrawn from your Taxi account.This is comparable to the overdraft base rate plus margin that banks charge. We compare Taxi to a business overdraft because similiar to a business overdraft it is a flexible funding facility required to be cleared to zero within nine months, with a fee for availability of funds to borrow. It is secured against business assets (in this case the provisional tax payments), similar to the GSA (General Security Agreement) for standard business borrowing from a bank. GSA lending is generally considered more high risk than residential mortgage lending so any business loan secured with residential property is not comparable to Taxi funding.

Rates for banks represent the minimum and maximum overdraft rate (base rate plus lender’s margin) as quoted on the interest.co.nz/borrowing/business-base-rates page at the date listed. (Individual bank rates may be lower than the maximum for some customers). In addition to the rates referenced here, both banks and Taxi charge a monthly fee for access to their facilities. On the interest.co.nz page above this is referred to as the Management fee. Taxi’s management fee is 0.15% per month on the Taxi facility limit. This is calculated monthly and billed quarterly and is comparable to the management fee of the main four banks.

See all the features

Big business funding
now available for everyone

At Taxi, our goal is to provide every New Zealand business with access to the benefits of our tax system that currently only the biggest enjoy.

Taxi is powered by Tax Traders, who are approved by IRD to be a tax pooling intermediary. Tax Traders holds over $2b of tax payments for Kiwi businesses and has been helping New Zealand's biggest companies gain access to funds in this way for over a decade. For the first time ever, Taxi brings this big business benefit to every business in New Zealand that pays provisional tax.

Taxi has allowed us to move quickly and make the most of opportunities.
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In the media
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Built by accountants and tax experts

Taxi is powered by Tax Traders, New Zealand’s most preferred IRD-approved tax pooling intermediary. This expert team of accountants and tax specialists have been working with provisional tax payments for the past 12 years and manages over $2 billion in tax payments every year.  

That same expertise is the driving force behind Taxi.

Some of Our Partners & Clients
LighthouseBusiness North HarbourBetterCoEnableMe
Panmure Business AssociationJuno ginResourcefullyVenture Advisory
Paragon RecruitmentWai ManukaTechtoriumOTU Wines
Tan in the CityPreviously Unavailable
We love that Taxi is helping Kiwi keep more money in their business.
Matthew Harris
Matthew Harris — Lighthouse Financial

Time for a new approach to cash flow?

Taxi changes what's possible by unlocking your tax payments that otherwise sit idle until your tax return is filed. Because you've already paid the tax, no additional security, guarantees or disclosures are required.

Features
Big Bank Overdraft
No financial disclosures
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No credit approval required
(Only standard AML checks)
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No additional security
(security is only required over your tax deposits)
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No guarantees
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Borrowing rate under 10% p.a.
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We’re here to give New Zealand a multi-billion dollar boost to productivity

Find out more

FAQs

What happens to my tax payments when I use Taxi?

Your provisional tax payments are held on your behalf by Government-owned Public Trust, in a tax pooling account at Inland Revenue.

How much business funding can I access with Taxi?

You can access as much or as little as you need, up to an amount equal to 90% of the provisional tax payments you have paid through Taxi in the previous 12 months.

Can I skip repayments?

You can skip repayments during the nine-month repayment period without incurring extra costs, so long as you catch up on those skipped repayments during the nine-month repayment period. Of course, if you repay the funds early, Taxi will reward you and provide you with a rebate.

What do businesses use Taxi for?

Our early stage research showed business owners wanted to use Taxi for expansion, purchasing vital machinery, managing delayed payments, and navigating seasonal dips in business. Business owners also told us they love the peace of mind that Taxi provides.

Do I need to tell my accountant I am using Taxi?

If you have an accountant, we think it’s a great idea to let them know you are using Taxi, but there is no requirement to do this.

Is my money safe?

Yes. Your provisional tax is held in your name in the Taxi trust account at Inland Revenue, by Government Owned Public Trust

What happens if the repayments fall behind and I can't keep up?

We understand that sometimes meeting repayments can get tough. That is why we put boundaries on both the amount you can borrow and the length of time you can borrow. This means that the chance of getting into trouble is reduced, and provided you've been keeping up your regular provisional tax payments, we'll be able to extend your repayment deadline, if necessary, in most cases.

How do I pay my tax once I file my taxes?

You don't need to Taxi will take care of it. Once you file your taxes and we know your obligations and you have repaid your tax deposits, your provisonal tax will automatically be paid to the IRD and your account will be updated.

How much can I withdraw from my Taxi account?

You can withdraw upto 90% of the provisional tax payments you have deposited with Taxi

Who owns Taxi?

Taxi is powered by Tax Traders; who are approved by the Inland Revenue to be a tax payment intermediatary. Find out more about Tax Traders here

Why do Kiwi businesses trust Taxi?

Taxi operates within the tax pooling legislation framework, which is unique to the New Zealand's tax system.

How do I pay my tax once I file my taxes?

The IRD will not charge you penalties or fees for depositing your provisional fees with Taxi.

Put your tax to work

Join Taxi today and start making your provisional tax payments work for you.

Sign Up Now