Tax Facts - Goods and Services Tax
GST is a tax on the supply of goods and services in New Zealand
by a registered person on any taxable activity they carry out. The
rate for GST is 15% although it can be zero-rated for
Certain supplies of goods and services are 'exempt supplies' and
exempt from GST. These include:
- Certain financial services
- Sale or lease of residential properties
- Wages/Salaries and most Directors' Fees
GST registration is required if the annual turnover of the
business for a 12-month period exceeds or is expected to exceed
GST returns can be filed monthly, bi-monthly or six
monthly. There are certain requirements for who must file
monthly returns and who can file six monthly returns.
There are three methods of accounting for GST:
If your turnover exceeds $2,000,000 pa you cannot use the
Payments basis option.
If you are selling or are thinking of selling your products
through your website please also refer to the section onGST and E-Commerce.
For more information on GST and how to register give us a call
or visit the GST section of the IRD website.
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