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Get it right

We know most businesses do the right thing, but we also know there are those that don’t. We are aware of and actively seeking out and prosecuting those who aren't paying their fair share.

Don’t risk it, check the information below so we can help you get it right.

Sales and income - are you telling us everything?

While most people try to do the right thing, some don’t tell us about all the income they're earning.

You need to keep a record of and declare all your income and sales, including any cash sales. It's fine to receive cash payments, so long as you record the sale and declare it as income earned in your GST and income tax returns.

Got it wrong in the past? Talk to your tax advisor about getting it right or making a voluntary disclosure. Voluntary disclosures can help lower shortfall penalties.

Make a voluntary disclosure

Lowering your shortfall penalty

Employing staff - meeting your obligations

As an employer you are obligated to make deductions from your employee's pay on our behalf. Deductions include PAYE, KiwiSaver, student loan and child support.

Deductions from salary and wages

Late payment penalties

Income tax - are you doing the right thing?

You need to pay tax on all income earned and keep an accurate record of your income and expenses.

Have an outstanding return or debt to pay? File and pay now.

GST - is your turnover $60,000 or more a year?

If you’re self-employed or running a business, once you earn over $60,000 a year you need to charge 15% GST on your sales and income and pay it to us.

Expenses - don't risk over-claiming

As the business owner, you are accountable for understanding your record-keeping obligations, even if you have someone else managing this for you (like a tax agent).

Record keeping - are your business records right?

As the business owner, you are accountable for understanding your record-keeping obligations, even if you have someone else managing this for you (like a tax agent).

Tax evasion and fraud - know someone who isn’t paying their fair share? 

If you know someone who is doing undeclared work, or paying less tax than they should, let us know anonymously.

Report tax evasion or fraud anonymously - IR873

Tell us about tax evasion or fraud

Last updated: 15 Oct 2024
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