More banks eye online tax

National Bank customers should be able to pay their taxes online by the end of the year.

National Bank customers should be able to pay their taxes online by the end of the year.

The bank plans to develop an internet-based tax payment system following a request by Inland Revenue. National Bank e-commerce head Mark Peterson says the bank would do the development in-house.

WestpacTrust customers have been able to pay tax online since December. Earlier this year IRD wrote to all the banks asking them to follow suit.

IRD general manager of business development and systems Colin MacDonald says two banks have responded positively. ASB Bank says it is investigating a system while BNZ, ANZ and TSB say they have no such plans.

WestpacTrust says the online tax payment system has reduced the rate of errors to less than 0.1%. The error rate for electronic payments such to IRD from all banks is about 32%.

The bank says about 5000 payments worth about $17 million are made through its system each month.

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