Make a payment
For businesses and employers Ngā pakihi me ngā kaiwhakawhiwhi mahi

Ceasing to operate a business

People in business may choose to sell or close all or part of their business, or in some instances their business may be bankrupted. If you stop operating your business, you need to complete your business tax obligations to complete for GST, employer related taxes, income tax and depreciation recovery.

Getting it right - closing down your business

Watch this video to see how easy it is for a business owner, Scott, to take care of his tax when he closes his business. The video also explains what to do if your business is registered with the Companies Office.

Cancelling your GST registration

If you stop your taxable activity or your annual turnover drops below $60,000, you may need to cancel your GST registration.

Tax obligations: ceasing to operate a business

Learn about filing your tax obligations when you cease operating a business.

Business sale or purchase - common tax issues

Find out about the common tax issues of a business sale or purchase.

Personal insolvency

When you can’t pay your debt you may become insolvent, which can include bankruptcy. We will work with you to try and avoid this happening, but if we cannot reach agreement we may go to court to resolve this debt. If we’re successful the Insolvency and Trustee Service (ITS) will deal with all ongoing matters.

Depreciation recovery

Find out what you need to do when ceasing a business and you are required to recover depreciation.