Tax – GST

GST is a tax applied to the supply of goods and services by a registered person in New Zealand on any taxable activity that they provide.

The GST rate is 15% – however exports are zero-rated.

When is GST required?

  • If an annual turnover of a business for a 12 month period exceeds or is expected to exceed $60,000.00.

When do GST returns need to be filed?

  • Monthly.
  • Bi-monthly.
  • 6 monthly.

(Some rules apply to who may file monthly or 6 monthly)

There are 3 methods of accounting for GST?

  • Invoice basis.
  • Payments basis.
  • Hybrid basis.

Turnover that exceeds or is likely to exceed $2 million per annum:

  • Not entitled to use the Payments basis method, if the $2 million threshold for the last 12 months has been met.

Website sales and E-Commerce:

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Adsett Braddock Reviews

We have been clients of Adsett Braddock for 15 years. Any requests that we have made have been dealt with almost instantly. Not to mention, their charges have been more than reasonable.
John Gelb

South St Properties Limited

I have exclusively used the team at Adsett Braddock since 1987. They have guided me through a variety of family, property and commercial endeavours across all aspects of accounting. Companies, trusts, trading trusts, personal, family members and my many referrals have all had great advice and outstanding service.
Ross Barraclough

Takanini Home and Trade Limited

Business made easy! With the help of Adsett Braddock I’ve been able to manage my accounts and returns through the years with confidence. I’ve recommended them many times and will continue to do so for years to come. Thanks!
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