09.05.2015

Beginners’ Guide to Filing Your Own Small Business Tax Return

We’re pretty lucky here in New Zealand.  Our tax system is rated as one of the easiest in the world to navigate and comply with.  And accountants are expensive right?  So when you only have a small business it makes sense to keep your costs down by filing your own tax return.  Here are a few tips and reminders to help you get it done right.

1. Include all your income – don’t forget to add in your cash sales (if you used the cash to pay expenses don’t forget to put those expenses in as well).  If you’re GST registered then your sales income is the GST exclusive amount.  If you’ve sent out invoices before the 31st March that weren’t paid until 1st April or later you need to include those too. [Read More…]