Good & Services Tax (GST)

STEP 3 - GST (otherwise click to continue to Record Keeping)

Businesses have to determine if they are required to register for GST

• Your businesses must register for GST if it conduct an taxable activity and if turnover:
  • was over $60,000 for the last 12 months, or
  • is expected to go over $60,000 for the next 12 months
  • was less than $60,000, but GST is included in charged prices,
    • e.g. taxi drivers have included GST of 15% included their taxi fares.
• If your business is registered for GST, then a GST return if filed and paid every 2 or 6 months depending on your GST registration period.
  • For example if you are 2 monthly GST, your April & May GST, will be filed and paid for in June.
  • In June you provide business financial records for April and May
    • Theses can include bank statements, invoice books, cash receipts, invoices, credit card statements, loan paper relating to business, etc
  • GST return is drafted by us, reviewed by you, and if all ok, it is sent to IRD
  • GST payment is also made before due date, either at Westpac bank, by internet banking, credit payment or by posting cheque to IRD

Contact us to setup an initial free meeting to discuss your GST requirements for your current or new business venture/s.

STEP 4 - Record Keeping