End of tax year: know what to do
Tax is vital to New Zealand life, but can be complicated
Take a look at these examples to find out what you need to do at the end of the tax year. You'll find out what you'll receive and when, based on the situation that best fits you:
Steve's employed, with a regular salary and no other income.
His employer files his salary and wages, so Steve can relax. By the end of June, we'll send him a notification that his income tax assessment is ready in myIR, or send it to him in the post. It'll show if he's paid the right amount of tax, owes more, or is due a refund.
Alex is employed with a regular salary but also sells paintings.
That’s ‘secondary income’. We’ll be in touch by the end of June for more information so we can issue her income tax assessment. Alex can crack on with that masterpiece in the meantime.
Henry's a self-employed farmer.
He'll receive a tax return in his myIR account or in the post by early April. This will show any income information we do have, but Henry needs to add details of any untaxed income, and expenses to claim, and file his return with us by the 7th of July.