We’re stoked you’re joining Hnry! But we also understand that it can be a big deal to hand your details over to a new company on the internet (even one as charming as we are).
So we’ve put together this quick explainer that walks you through everything we need from you, and what we need it for. We also have some pretty cool security credentials we think you should know about, because when it comes to keeping you and your money safe, we don’t play around.
Think of it as a quick little speed date, where we give you all the information you need to continue this relationship before the bell rings.
So without further ado… hi there, gorgeous! We’re Hnry.
What you need to sign up for a Hnry Account
Your bank account details
We know that inputting your bank account details anywhere can be a bit nerve wracking! But we want to reassure you that all we need is the name on your bank account, as well as the account number. That’s it.
This means we won’t be able to access your personal bank account, see your bank feed, see your transactions, move your money around, or literally anything else!
In fact, all we’ll be able to do is pay into your account, which is why we need your number in the first place. Once we deduct your taxes, levies, student loan repayments (if applicable), allocations (if you have them set up), and the Hnry 1% +GST fee, we need your bank details to forward your payments to.
That’s the magic of Hnry, really – everything that lands in your personal bank account is yours to spend on whatever you like. You don’t have to set money aside for anything, so go ahead and treat yourself.
An email address and password
These will become your login credentials for the Hnry App.
The stronger you make your password, the better! It’s the first line of defence in stopping unauthorised users from accessing your account.
💡 We will never, ever ask for your password. Not ever. If you get a request that appears to be from us asking for your password, it’s definitely a scam. Please report it!
We’ll also need to contact you on occasion to update you on our service – things like letting you know we’re ready to file your tax return, or whether or not you have an ACC bill. For this reason, we need an email address you check regularly.
Your IRD number
It’s how we pay your taxes!
We need your IRD number in order to forward your taxes, levies, and student loan repayments to the right IRD account.
Your estimated annual earnings from all income sources
In order to calculate your sole trader taxes as accurately as possible, we need to know about any other income you might have. This includes things like:
- PAYE income
- Rental income
- Dividends
Your total income tax bill will take into account all eligible income, which is why we need to know about all of it in order to get the self-employed portion right!
What type of work you do
Are you a tradie? Or a florist, perhaps? Maybe even a beekeeper? What about a government contractor, who sells watercolours in his spare time? It’s all cool with us – we support sole traders of all industries.
The two reasons we ask, though, are firstly that we want to be certain you’re on the right ACC Work levy rate, so you’re not overpaying.
Secondly, different work types have different business expenses, and we want to make sure you’re claiming everything you’re eligible for.
Certain business expenses are only valid tax deductions for specific work types – the IRD won’t automatically accept anything and everything.
For example, a hard hat might be a valid expense if you’re a builder – but not necessarily if you’re a lawyer. We need to know what you do, so we can accurately manage your expenses and get you the right tax relief!
Whether or not you’re GST registered
If you’re GST registered, we need to know so we can:
- Add GST to your prices when you create a Hnry Invoice
- Collect GST from your incoming payments and forward it to the IRD on your behalf
- Complete and file your GST returns, whenever they’re due
If you have a student loan
You’ll need to pay 12% of all income over the repayment threshold towards your student loan. Unfortunately, this includes any eligible sole trader income.
The good news is that we’ll calculate, deduct, and pay anything you might owe on your loan for you. You won’t even have to think about it.
Our security credentials
At Hnry, we take security very, very seriously. After all, we’re Australasia’s fastest-growing accountancy, processing $3 billion in payments annually, including 1% of Aotearoa’s tax revenue.
That’s why:
- We run all staff through regular security, risk, and compliance trainings
- We insist on either two-factor authentication or Biometric sign in for our app’s users
- We meet all security requirements necessary in order to integrate with the ATO
- (The ATO is Australia’s IRD)
- We’re even ISO 27001 certified – it’s an independent, internationally recognised certification that requires the highest levels of business security in order to be awarded.
More importantly, we’re trusted by thousands of sole traders both here and across the ditch, helping them sort all their taxes, manage their financial admin, and get paid on time.
If this sounds good to you, fantastic! Welcome to Hnry. We think you’re going to like it here.
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