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North Island flooding Our Takapuna and Manukau offices are temporarily closed. Many of you have been affected by the flooding in the North Island and may need help keeping up with your tax obligations. Find out more

Your business is making a loss if its expenses are greater than its income. Businesses that are making a loss do not have to pay income tax.

A loss can often be used to reduce your taxable income in the future.

If your company is making a loss it may be able to:

  • carry the loss forward to the next tax year to offset its income
  • transfer the loss to another company.

If your company is a look-through company any losses will be passed on to its shareholders.

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