Ceasing to operate a business
People in business may choose to sell or close all or part of their business, or in some instances their business may be bankrupted. If you cease to operate your business, you have business tax obligations to complete with regard to GST, employer related taxes, income tax and depreciation recovery.
Information for taxpayers considering the implications of bankruptcy.
Find out what you need to do when ceasing a business and you are required to recover depreciation.
Learn the procedure for filing a final income tax return for the business and the need to retain business records for ceasing to operate a business.
Your GST registration may be cancelled if you cease all taxable activities, or you can satisfy us that your turnover for the next 12 months will be less than $60,000. To cancel your registration please phone us on our GST line.
Find out about the procedure for cancelling your employer registration, including the need to retain records, whether you are ceasing business altogether or only ceasing to operate as an employer.
Learn the procedures for ceasing business that is facing insolvency and what you need to do.
Date published: 24 Nov 2004
Back to top