NZ tax terms, plain English.
GST jargon decoded for tradies. Updated as IRD rules change.
GST (Goods and Services Tax)
NZ's 15% consumption tax. Tradies registered for GST charge it on invoices and claim it back on expenses.
GST 101A return form
IRD's standard GST return. Filed 1, 2, or 6-monthly via myIR.
GST registration
Mandatory once turnover hits $60K/yr. Voluntary if under.
Input tax
GST you paid on business expenses, claimable on your return.
Output tax
GST you collected on sales, owed to IRD on your return.
Provisional tax
Pre-paying income tax in instalments through the year.
myIR
IRD's online tax portal where you file GST and pay tax.
IRD (Inland Revenue Department)
NZ's tax agency. Responsible for GST, income tax, KiwiSaver.
Income tax (sole trader)
Tax on your profit. Smoko tracks income; your accountant files.
IR3 income tax return
Annual income tax return for sole traders.