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File on time: Tax returns due 7 July

Income tax returns are due by 7 July. Find out about:

  • how to file online
  • what to do if you received a wage subsidy
  • the rules for reporting residential rental income.

The quickest and easiest way to file your income tax return is to do it online, using myIR. If you don’t have a myIR account, you can register for one on the Inland Revenue website.

Filing online using myIR, means that details that Inland Revenue already have for you will be pre-populated. You’ll receive immediate confirmation your return has been received.

Register for a myIR account(external link) — Inland Revenue

File your tax return online(external link) Inland Revenue

Did you receive the wage subsidy?

If you received the wage subsidy during the 2020-21 tax year, this is taxable income.

When you need to declare this income

If you’re self-employed or received the wage subsidy directly or through an associated entity, eg, a company, partnership or trust, and tax was not deducted at the time, you’ll need to declare this income by completing an individual tax return – an IR3. You can do this online in myIR.

If you’re an employer

If your employees received the wage subsidy through you and tax was deducted at the time, they don’t need to do anything.

Wage subsidy for self-employed(external link) Inland Revenue

Rules for reporting residential rental income

If you own residential rental properties you can claim deductions, or expenses, up to the total amount of income you earn from those properties. You can no longer use excess deductions from your property to offset income from other sources, such as salary and wages.

Most residential rental properties are subject to the residential property deduction rules (also known as the ring-fencing rules). The rules do not apply to some residential properties, such as your main home, and residential properties that are subject to the mixed-use asset rules.

More information about the rules, and how to include residential rental income in your income tax return, are available on Inland Revenue’s website.

Including residential rental income on your tax return(external link) — Inland Revenue

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