Black & White Accounting

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MENU
  • Home
  • Meet the Team
    • Kirsten Wise
    • Simon Hankins
    • Dave Cheetham
    • Karrie Stephens
  • Accounting
    • Key Dates
    • Tax Facts >
      • ACC Premiums
      • Depreciation Allowances
      • Entertainment
      • Fringe Benefit Tax
      • Gifting
      • Goods & Services Tax
      • GST & E-Commerce
      • Kiwisaver
      • PAYE on Salaries & Wages
      • Provisional Tax
      • Resident Withholding Tax
      • Tax Credits (formerly rebates)
      • Taxpayer Penalties
      • Working for Families Tax Credits
    • FAQ's
    • PaySauce
    • Accounting Testimonials
  • Insurance
    • Insurance Testimonials
  • Mortgages
    • Home Loans - Buying or Selling
    • First Home Buyers
    • Refinancing or Fixing
    • Debt Consolidation
    • Personal Loans
    • Interest Rate Options - Fixing or Floating
    • Types of Loans
    • The Costs
    • Mortgage Tips
    • Moving House Checklist
    • Mortgage Testimonials
  • Real Estate
  • Checklists
    • Individual Checklist
    • Business or Trust Checklist
    • Rental Checklist
    • Farming Checklist
    • Short Term Rental & AirBNB Checklist
  • News & Updates
  • Pay your invoice now
  • Contact

Tax Facts: Goods & 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 exports.

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 $60,000. 
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:
  • Invoice Basis
  • Payments Basis
  • Hybrid Basis
​
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 on tax 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.
Supplied by
CCH Business Fitness NZ
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Phone: (06) 834 0771
Fax: (06) 834 0773
Email: [email protected]
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43 Carlyle Street
​Napier 4110

New Zealand

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PO Box 480
Napier 4110
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