What is schedular tax? Where's the rest of my money?

If you have invoiced Part Time Professionals as an individual, a sole trader, a trust or a partnership, we are obliged to withhold schedular payment tax (previously known as withholding tax).

This will be 20% of the amount of your invoice, excluding the GST portion. So if you send us an invoice for $100, we will pay you $80 and the remaining $20 goes to the IRD under your name. This contributes to your income tax. However, please note that this doesn’t necessarily mean you don’t have to worry about tax at the end of the financial year. It is your responsibility to ensure you have paid the right amount of tax.

If you have invoiced Part Time Professionals as a company, you will receive $100 (plus GST if applicable).