Skip to main content

Service changes and updates IR offices, myIR and phone lines (SPK2IR) are unavailable until the morning of Thursday 28 October for planned system maintenance. Find out more

Resurgence Support Payment (RSP) You will not be able to apply for the RSP in myIR until the morning of Thursday 28 October. Businesses affected by the alert level increase that started on 17 August can apply in myIR from 28 October. Applications for a 4th payment round are planned to open on 29 October. Find out more

Resurgence Support Payment (RSP) The government has announced an increase to the amount and frequency of the RSP from 12 November. Find out more

What income does this include?

Commonly this includes income from:

  • self-employment
  • rental property including Airbnb and Bookabach
  • overseas
  • shareholder salary
  • directors’ fees
  • 'under the table' cash jobs
  • tips from customers 
  • royalties
  • a taxable property sale
  • an estate, trust or partnership.
  • wage subsidy

School students who earn less than $2,340 in a tax year from self-employment do not pay tax on that money.

Rental income and paying tax

Types of business income

Telling us about income

If you receive more than $200 in income with no tax deducted, you'll need to tell us. You do that on an individual tax return - IR3.

The IR3 is used at the end of the tax year to:

  • tell us about all your taxable income
  • claim expenses, such as costs for operating your business or maintaining your rental property
  • calculate your tax assessment so you know how much tax to pay or refund to expect.

Individual tax return - IR3

Last updated: 30 Mar 2021
Jump back to the top of the page