-
Record keeping
Keep good business records to help you file your returns and as support if you're audited.
-
Balance dates
A balance date is the last day of an accounting year. Most businesses have a balance date of 31 March.
-
Types of business income
Business income can cover anything from selling goods online to investing overseas to running a large company. How your income is taxed depends on what kind of income it is.
-
Types of business expenses
If you're in business, you can claim different types of expenses against your income.
-
Provisional tax
Provisional tax helps you pay your income tax in instalments during the year not in a lump sum at the end of the year.
-
GST
A tax added to the price of most goods and services, including imports. It applies to people who buy and sell goods and services.
-
Withholding taxes
You may need to withhold tax on schedular payments, resident withholding tax and non resident withholding tax.