Your responsibilities after cancelling your GST registration
What you must do
Check the list below for responsibilities you must follow after cancelling your GST registration.
- You will be required to file GST returns until the approved cancellation date.
- You must still meet all your GST responsibilities and requirements incurred while you were registered.
- You must not issue invoices that show a GST number or GST included in the prices you charge.
- If your business has stopped before you cancelled your registration you must make sure you have accounted for GST on all money:
- owed to you by debtors, and
- that you owe to creditors.
- If you keep assets from your business to use them privately or in another business, you must make an adjustment in your final GST return.
- If you sold or are selling assets from your business, you must include these in your final GST return. This includes any assets bought before GST was introduced on 1 October 1986. Typical assets are land, cars, computers and furniture.
- You must keep your GST records for seven years. This does not apply to companies that have been officially wound up or dissolved.
Example
Vincent has been registered for GST since 1 October 1986 and applied for cancellation on 1 July 2007. We approved the request effective from 31 July 2007.
On 1 September 2007, an Inland Revenue investigator discovered that Vincent didn't correctly account for GST in the GST return to 31 May 2007. Vincent is still liable for any underpaid GST and penalties, even though he is no longer registered.
Next steps
Date published: 17 Apr 2007
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