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New Zealand: Domestic Corporate Taxation

Filing Requirements, Payment of Tax

The due date of filing of a company’s tax return depends on the end of its accounting year. When a company applies for its IRD number, its end-year date is fixed at March 31. A company requiring a different end-year date will need to apply to the IR, stating the reason for the change.

For accounting years ending between October 1 and March 31, the due date of filing an income tax return is July 7 (the due date therefore for most businesses). Other companies have a due date on the 7th day of the fourth month after the end of their accounting year.

A company may choose to make voluntary tax payments during its first year of business, and may then be entitled to claim an early payment discount.

If a company’s tax payable on its last income tax return was more than NZD2,500, provisional tax is payable during the following year. The number of such payments during a year is normally three, but depends on how the provisional tax is calculated by the company and whether a company is also GST-registered. At the end of the tax year, a company pays, or is refunded, the difference between the amount of provisional tax paid and the amount it should have paid, based on actual taxable profit for the year.

If a company files and/or pays late, or does not pay the full amount, penalties may be applied by the IR.



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