Goods and Service Tax is a tax paid by both businesses and individuals on the purchase of goods and services in New Zealand.
Any New Zealand registered company with a realized turnover of more than NZD 60,000 over the last twelve months, or an expected turnover of more than NZD 60,000 expected over the coming twelve months, is obligated to register for GST in New Zealand.
As part of our services, we can organize for your business to be registered for GST the time of incorporation in order to reduce compliance burdens in the future.
GST payments must be made throughout the year, with the frequency determined by the calculation method used to determine the total amount owing.
In order to determine the tax payable, it is first necessary to calculate the total deductible expenses of the business, and to calculate the sales and purchases of the Company.
For personal assurance and ease of compliance, it is recommended that you utilize the accounting services offered by our partnering firm, Abaconda Management Group.