Getting it right
File your GST return on time and avoid penalties.
Declare all your income on your GST return.
Filing electronically using myIR Secure Online Services is the most accurate and efficient way to send us your GST information.
If you've made a mistake in your GST return contact us and we'll help you get it right.
Cancel your GST registration with us if your business closes down.
Mistakes we often see associated with GST
The mistakes that we most often see associated with GST return filings are shown in the table below.
|2||Not accounting for GST on the private use of assets owned by the business|
|3||Not registering for GST early enough and not de-registering when the business closes||If you think your business income will be more than $60,000 a year you must be registered for GST. When you business closes you must cancel your GST registration and complete your final GST return, accounting for required adjustments.|
|4||Not including all your taxable supplies in the GST return||All your sales that don't qualify as exempt or zero-rated must be in the GST return so that you pay the right amount of GST.|
|5||Reporting sales and expenses for a period not covered by the return||If you forget to declare something in a GST return please contact us so we can make the appropriate adjustment.|
If you realise you've made a minor error or errors in a GST return you've filed you correct it in the:
- next taxable period and calculate the adjustment, or
- in the same taxable period by writing to us with the details.
Corrections can be made if the error or errors were caused by a clear mistake, simple oversight or a mistaken undertaking which results in an under or over-statement of your tax liability.
If you've chosen a particular tax position and then change your mind about it you can't correct it. Instead you must use our disputes process, which means completing a Notice of proposed adjustment (IR770) form and sending it to us no later than four months after the due date of your GST return.
What we are doing
- Checking GST is repaid when business assets are used for private purposes.
- Monitoring land transactions to make sure GST is properly accounted for.
- Assessing GST refund entitlements using new technology to check across the tax information we receive.
- Encouraging customers to E-File GST returns through their myIR account.
- Checking if a nil GST return means that a business has closed.
More information on GST
Date published: 14 Apr 2014
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