New Zealand GST returns

Any company registered with a New Zealand GST number must submit periodic returns to the Inland Revenue.

How often are New Zealand GST returns required?

GST-registered businesses filing frequency depends on their turnover levels:

  • Monthly: turnover above NZD 24 million
  • Two-monthly: turnover between NZD 500,000 and NZD 24 million
  • Six-monthly: turnover below NZD 500,000

What New Zealand GST may be deducted?

GST-registered businesses may offset in their returns any GST incurred (input GST) on supplier invoices against the GST they charge their own customers (output GST). This includes import GST as well as GST on capital goods used in the business.

Input GST must be recovered within 2 years of the supplier invoice. The invoice must comply with New Zealand invoice disclosure rules if above NZD 50.

There are restrictions on the recovery of input GST, including assets used wholly or partially for private use or in relation to non-taxable services. Business entertainment expenses are limited to 50% of any GST.

What are the returns filing and payments deadlines for New Zealand GST returns?

GST returns must be submitted by the 28th of the month following the reporting period end. The payment date of any GST due is the same.

New Zealand GST penalties

There are a range of penalties and interest for transgressions of the New Zealand GST rules. These include:

  • 1% of GST due if unpaid after first day when GST return was due. This then increases to 4% if unpaid after 7 days. Subsequently, there is a 1% charge for each month that passes without settlement of the GST
  • NZD 250 fine for late filings of GST returns
  • Fines of 20% to 150% for under declarations of GST
  • 8.27% interest fines for under declared GST
  • GST offenses may be regarded as a criminal offence, and therefore subject to imprisonment and/or further fines

How are New Zealand GST credits reclaimed?

For GST reporting periods, where the input GST has exceeded the output GST, the credit may be refunded. An application should be made within 15 days after the submission of the relevant GST return.

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