GST is a tax on goods and services, including imports.  The rate for GST in New Zealand is 15% although it can be zero-rated for exports.

Certain supplies of goods and services are “exempt supplies”. These include:

• Certain financial services
• Sale or lease of residential properties
• Wages/Salaries (PAYE) and most Directors Fees
• Bank fees and interest

GST registration is required if:

• the annual turnover of the business for a 12-month period exceeds or is expected to exceed $60,000 or
• you carry out a taxable activity and you add GST to the price of the goods or services you sell.

 Your filing frequency and accounting basis is selected when you register for GST.

 Filing Frequency Options:

• 1 monthly
• 2 monthly
• 6 monthly

Accounting basis – Methods of accounting for GST:

• Invoice Basis
• Payments Basis
• Hybrid Basis

For more information on GST see the GST section of the IRD website.