{"id":4232,"date":"2020-07-15T19:49:06","date_gmt":"2020-07-15T19:49:06","guid":{"rendered":"http:\/\/pas.prwebnz.a2hosted.com\/%e7%a8%8e%e5%8a%a1%e7%94%b3%e6%8a%a5\/gst-return"},"modified":"2021-01-08T11:33:04","modified_gmt":"2021-01-08T11:33:04","slug":"gst-return","status":"publish","type":"page","link":"https:\/\/pas.prwebnz.a2hosted.com\/zh-hans\/shui-wu-shen-bao\/gst-return","title":{"rendered":"GST Return"},"content":{"rendered":"

[vc_row full_width=”stretch_row” css=”.vc_custom_1605735401284{padding-top: 0px !important;padding-bottom: 60px !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_column][vc_column_text]GST is a tax added to the price of most products and services in New Zealand. Every business must register their GST return<\/b><\/strong>\u00a0if the business\u2019s annual turnover was, or is going to be over $60,000 in a 12-month period. If your annual turnover is less than $60,000, you can choose to register your GST voluntarily but it\u2019s not compulsory.<\/p>\n

When your business has been registered, you can claim GST on products and services when you buy for your business. You can also charge GST on the products and services that you sell. But bear in mind, GST is a goods and services tax<\/b><\/strong>\u00a0that you are collecting on behalf of the government. Therefore, a good practice is to set the tax aside as you earn it so that you don\u2019t end up spending it and coming up short when filing your GST return.<\/p>\n

Whether your annual turnover is below or above $60,000, registering for GST can be beneficial to do. One of the potential benefits is that if a GST registered business has high expenses but little income, they might be able to claim a GST refund<\/b><\/strong>.[\/vc_column_text][vc_empty_space height=”60px”][vc_custom_heading text=”GST Frequency &Accounting Basis” use_theme_fonts=”yes” css=”.vc_custom_1610105255950{margin-top: 0px !important;}” el_class=”title-style-cls”][vc_column_text]When you register GST, you can also choose your GST filing frequency (how often you file GST) and your GST accounting basis (how you choose to record your GST).<\/p>\n

\u00a01. GST Filing Frequency<\/h3>\n

Regarding the GST Filing frequency, you have three options:<\/p>\n

    \n
  • Monthly<\/li>\n
  • Two-Monthly<\/li>\n
  • Six-Monthly<\/li>\n<\/ul>\n

    \u00a02.Your Accounting Basis<\/h3>\n

    Regarding the accounting basis, you have three options for recording your GST:<\/p>\n

      \n
    • Payment Basis<\/li>\n
    • Invoice Basis<\/li>\n
    • Hybrid Basis<\/li>\n<\/ul>\n

      [\/vc_column_text][vc_empty_space height=”60px”][vc_custom_heading text=”GST Registered Companies: Things to do” use_theme_fonts=”yes” css=”.vc_custom_1610105382760{margin-top: 0px !important;}” el_class=”title-style-cls”][vc_column_text]Below is a list of the things you will need to do when your company becomes GST registered.<\/p>\n

        \n
      • You will need to charge GST on the goods and services that are provided to your clients.<\/li>\n
      • You will need to complete the IRD GST return<\/b><\/strong>on time.<\/li>\n
      • If you owe GST to IRD, you will also need to pay it before the due date<\/b><\/strong>.<\/li>\n
      • You will also need to keep related GST Records.<\/li>\n<\/ul>\n

        Lastly, you will need to make sure that all GST information for your business is recorded accurately. Not all sales and expenses for a company are GST inclusive, because of this, it is of the utmost importance that the bookkeeper has an in-depth knowledge of all GST accounting<\/b><\/strong>\u00a0processes.[\/vc_column_text][vc_empty_space height=”60px”][vc_custom_heading text=”Manage your GST Returns with Premium Accounting Solution” use_theme_fonts=”yes” css=”.vc_custom_1610105472449{margin-top: 0px !important;}” el_class=”title-style-cls”][vc_column_text]In need of a professional accountant for GST returns<\/b><\/strong>\u00a0to help you through your calculations? At Premium Accounting Solution, we provide a wide range of tax compliance services and are well-versed in GST returns in New Zealand<\/b><\/strong>. We can help you make sure that all your GST related sales or expenses have been calculated in the right place, and that your bookkeeping is accurate and compliant with New Zealand GST regulations.<\/p>\n

        While some business owners may choose accounting software to record all their transactions, we can also provide our clients with an Excel GST worksheet designed by us, to help you calculate your GST efficiently. Book an appointment with us today and manage your GST responsibilities with the team at Premium Accounting Solution![\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"

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