All businesses can operate, provided they can meet the rules to operate safely. Businesses are still required to display the official QR codes for the NZ COVID Tracer app at all alert levels.
For more information, check out the business.govt.nz page for Workplace operations at COVID-19 alert levels
Whether you’re a sole trader, contractor or employer, there are a number of important tax changes you need to know about. Check out how they apply to you.
From 1 April 2018, your business will have the option to pay provisional tax only when you make a profit. The Accounting Income Method (AIM) also allows you to get refunds throughout the year. Your accounting software calculates how much tax to pay for each filing period – monthly or every second month.
From the start of April businesses can choose to report payroll information every payday instead of monthly. This is voluntary from 1 April 2018, and compulsory from 1 April 2019.
You need to start thinking about how and when you’ll opt in.
Payday filing(external link) – Inland Revenue
From 17 April 2018, you’ll see a range of changes when you log in to myIR, designed to make tax simpler for you.
The ‘My GST’ section will change to ‘My Business’, and you’ll be able to:
What’s changing for businesses(external link) - Inland Revenue
Laws to combat global tax evasion have been in place since 1 July 2017. Financial institutions including banks now have to gather information about tax residency from new and existing account holders.
If you’re a foreign tax resident, you’ll be asked which country you’re a tax resident of, and you’ll have to provide your tax identification number (TIN) details.
What this means for you(external link) – Inland Revenue
Contact Inland Revenue on 0800 377 774.