The due date for IR3, IR3NR, IR4, IR6, IR7, IR8 and IR9 income tax returns is 7 July. Make sure to file on time.
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You need to file an IR3 individual income tax return if you earned income other than salary, wages, interest, dividends, and/or taxable Māori authority distributions.
Commonly this includes income from:
- self-employment
- overseas
- rental property including Airbnb and Bookabach
- 'under the table' cash jobs
- an estate, trust or partnership.
If you have a myIR account, you can check in myIR to see if you need to complete an individual tax return.
I’ve been asked to complete an individual tax return (IR3)
You need to file an IR3NR non-resident income tax return if you haven’t been in New Zealand for the past tax year but did earn income from New Zealand sources.
You need to file an IR4 companies income tax return if you were an active New Zealand resident company in the past tax year.
If you are a trustee of a trust, or the executor or administrator of a deceased person's estate you need to file an IR6 to account for income the estate or trust earns.
Every partnership or look-through company (LTC) must file an IR7 return showing their total income after expenses and attach either the Partnership income/loss attribution - IR7P or the Look-through company (LTC) income/loss attribution - IR7L for each partner or owner.
Each partner or owner also needs to file their own income tax return showing their partnership income or losses.
All entities that have become a Māori authority must file a tax return each year, whether they’ve received income or not.
A Māori authority is any of the following:
- Trusts and companies that administer Māori freehold land under Te Ture Whenua Māori Act 1993 (Māori Land Act 1993).
- The Māori Trustee.
- Māori Trust Boards.
- Crown Forestry Rental Trust.
- Te Ohu Kai Moana Trustee Limited.
- Aotearoa Fisheries Limited.
- Trusts and companies that receive and manage fisheries assets allocated under the Māori Fisheries Act 2004.
- Trusts and companies that receive and manage assets of the Treaty settlement redress process.
All New Zealand clubs and societies must file a tax return each year unless they derive only exempt income.
Have you received the wage subsidy?
If you received the wage subsidy during the 2020-21 tax year, this is taxable income.
If you received the wage subsidy through an employer with tax deducted by them, or if you’ve already repaid it in full, you do not need to do anything further.
However, if you received it directly or through an associated entity (for example a company, partnership, or trust) and tax was not deducted, you’ll need to declare this income by completing an Individual tax return - IR3. You can do this online in myIR.
Where our records show you received the wage subsidy directly and if you file through myIR, we have pre-populated this amount into the Government Subsidies field in your return. You just need to check the amount showing is correct. This amount can be amended to account for any repayment(s) made before 31 March 2021 or if a portion was included in your 2020 tax return.
Where you received the wage subsidy through an associated entity, make sure you show the amount of the wage subsidy received less any repayments made by 31 March 2021 in the Government Subsidies field of your return.
COVID-19 Wage subsidy and leave support payments - Issues for self-employed and other individuals
Rules for reporting residential rental property income
When completing your annual tax return, you can now only claim deductions (deductible expenses) up to the total amount of income you earn from your residential rental property. You can no longer use excess deductions from your property to offset other income such as salary and wages. When you have excess deductions you must carry them forward from year to year and deduct them when your residential property makes income.
Most residential properties are subject to the residential property deduction rules (also known as the ring-fencing rules). The rules do not apply to some residential properties such as your main home and residential properties that are subject to the mixed-use asset rules.