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Calculate your sales and income

The table below explains how to calculate your sales and income.

Step Action Find out more
1

If you use the invoice or hybrid basis

Add up all the payments received and invoices issued for taxable supplies you made in the taxable period, including total imported services with the addition of GST. Write this figure in Box 5 on your GST return.

 

If you use the payments basis

Add up all the payments you received during your taxable period for the taxable supplies you made. Write this figure in Box 5 on your GST return.

 
2

Subtract the total of any zero-rated supplies (Box 6 on your GST return) from the total sales and income. Write this figure in Box 7 on your GST return.

Zero-rated supplies

3

Multiply Box 7 by 3 then divide by 23. Write this figure in Box 8 on your GST return.

Note: If completing a GST return for a period ending on or before 30 September 2010 divide Box 7 by 9. Write this figure in Box 8 on your GST return.

 
4

Enter the sum of any adjustments on sales and income from Box 9 on your GST adjustments calculation sheet (IR372) in Box 9 on your GST return.

Calculate adjustments on sales and income

5

Add Box 8 and Box 9. This figure will give you your total amount of GST collected on sales and income. Write it in Box 10 on your GST return.

 

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Next steps

 


Date published: 29 Sep 2010

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