GST
GST is a 15% tax on the supply (sale) of most goods and services in New Zealand, most goods imported into New Zealand and some specified imported services. Supplying or making a supply is your taxable activity. (IR 375)
GST will apply to the following examples of taxable activity:
- services such as graphic design, hairdressing, mechanical building, painting
- products such as clothing or cars, fish and chips
- experiences such as bungee jumping, skiing, kayaking, going to the movies
- professional services such as legal advice
Activities exempt from GST:
- sales by an unregistered person
- sales of private property (e.g., a car or home not used for business)
- exempt supplies:
- financial services such as interest payments on loans or bank fees
- donated products and services which are sold by not-for-profit organisations
- rent paid on a private home
- penalty interest
GST is charged at 0% for the following:
- exported goods
- sales of going concerns (selling or buying a business that will continue to run as the same type of business)
- sale of land
If you need help in understanding this or any other tax topic, and how it relates to your business please -
