Income tax Dates
OCT 28Provisional tax payments are due if you have a March balance date and use the ratio option.
JAN 15Provisional tax payments are due if you have a March balance date and use the standard, estimation or ratio options.
FEB 7End-of-year income tax and Working for Families bills are due, unless you have an extension of time to file your income tax return.
You can claim different types of expenses depending on what kind of income you get.
If you're in business, including self employed or working as a contractor, you may be able to claim expenses like your home office, your car, depreciation and environmental costs.
If you own a rental property, you may have expenses related to its upkeep.
If you are not in business
If you only earn income that's already taxed like salary, wages or investment income, then there are several sorts of non-business expenses you can claim.
- You can claim the cost for someone to complete and file your income tax return or assessment. For example, any amount you paid an accountant or tax agent.
- You can claim the cost of income protection insurance if the insurance payout would be taxable. Ask your insurance provider if your income protection insurance is deductible (can be claimed as an expense). This is also called 'loss of earnings' insurance.
- You can claim any commission you were charged on your income from interest and dividends, except bank fees.
- You can claim interest on money you’ve borrowed to buy shares or to invest, as long as that investment will produce taxable income.
- You can claim interest you’ve paid to us for late payment of tax. You must claim this in the income year that you paid it.
These expenses can be claimed in your end of year return under 'non business expenses'. If you receive an automatic income tax assessment, you can contact us to add in these expenses.
You may be asked to provide proof, for example invoices from an accountant or a receipt for income protection insurance.