October Newsletter

Sasha Curin
Nov 3
3 min read

Probate Threshold Rise, IRD Credit Reporting Pilot & December System Shutdown

Heading into November, there are a few important updates from Inland Revenue that may affect business owners and trustees. The probate threshold has increased, making it easier to manage estates without court approval in more situations. IRD has also launched a new pilot that allows unpaid tax debt to be shared with credit reporting agencies, which could impact business credit ratings. Plus, another scheduled IRD system shutdown is coming in December.

We’ve summarised this month’s key updates below.

IRD Updates

Probate Threshold Increased to $40,000

From 24 September 2025, the threshold for requiring probate has increased from $15,000 to $40,000.

What is probate?

Probate is a legal process that confirms a deceased person’s will and gives the executor legal authority to manage their estate, including bank accounts, investments, and other assets.

Why it matters for business owners:

If a shareholder or business owner dies, the estate process can affect business continuity.
With the higher threshold, smaller estates can now be handled without going to the High Court, reducing delays and legal costs for families.
However, assets like property, vehicles or company shares often still require probate, and dying without a will can still cause major complications.

Now is a good time to review wills, shareholder agreements, and business succession plans to protect your business and family.

IRD May Share Unpaid Tax Info with Credit Agencies

From 13 October 2025, IRD may share details of significant unpaid tax with credit reporting agencies as part of a new pilot programme.

This could apply to businesses that:

Owe over $150,000 in unpaid tax, or
Have tax overdue more than 12 months and equal to 30%+ of their income,
And fail to engage with IRD after being warned.

Non-payment could now harm your business credit rating, affecting loans, leases, and supplier terms. The good news, setting up a payment plan prevents reporting, so staying in touch with IRD is essential.

If you’re behind on tax, don’t ignore IRD letters!

Learn More

IRD System Shutdown - December

IRD services including myIR will be unavailable 6–7 December 2025 due to maintenance.

Plan ahead if you need to file or upload documents that weekend.

GST Returns in New Zealand

If you’re running a business or trust in New Zealand, staying on top of your GST return obligations is essential. In our latest blog, we break down what GST returns are, who needs to register (including voluntary GST registration), how filing periods work, key deadlines, and common mistakes to avoid.

Read the Blog

13 Tactics for Winners: A Tip to Succeed

We’ve created a guide called “13 Tactics for Winners” to help you succeed in business and life. It’s packed with practical advice on setting goals, staying motivated, and overcoming challenges.

This month, we’re highlighting one tactic from the guide to get you started:

This Month's Tactic: Strive for Excellence

Success comes from maintaining high standards. Excellence isn't achieved by those who accept "good enough" – it's reached by those who continually push beyond mediocrity and pay attention to the details that others overlook.

Ask yourself:

What areas of your business need higher standards?
How can you go the extra mile for your customers?

We'll share another tactic next month to keep you inspired. If you'd like to explore all 13 tactics now, you can download the full guide below

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