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Accounting and taxation requirements in New Zealand


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Accounting and taxation requirements in New Zealand

  1. 1. Accounting & Taxation Requirements in New Zealand
  2. 2. Current Fiscal Advantages in New Zealand $0 40% lower average wage than Australia, plus low social security contributions (3% of gross salaries) New Zealand residents can register as look- through companies (LTC) and receive tax cuts Free trade agreements with China, ASEAN and Gulf Cooperation Council countries New Zealand is ranked as the best country in the world to secure a loan by the World Bank because of its support for SMEs Minimum paid up share capital for new companies
  3. 3. Accounting & Tax Requirements in New Zealand Value Added Tax Rate Corporate Company Tax Rate Dividend Tax Rate Limited Liability Company Tax Rate Branch Tax Rate 15% 28%* 10.5% – 33% 28% 28% Requirement to file Monthly Taxes Requirement to file Annual Taxes Reporting to what Accounting Standard Requirement to invoice through the National Tax Authority Yes Yes XRB Yes, IRD Key Information: The system is one of self-assessment, under which the corporation files an income tax return each year. *Paid provisionally on 15th January, 31st March, 7th May.
  4. 4. Accounting and Taxation Services Accounting Accounts Payable, Accounts Receivables and Treasury Reporting Tax Planning and Declarations Payroll Services Audit Services We keep your books and accounting registries in compliance with local laws and regulations. We provide complete and comprehensive support services for these key areas. We can adapt reports to your specific needs, in multiple currency formats and complying with international and local accountancy standards Planning and presentation of taxes before the local tax authorities Calculation, presentation and payment We provide bespoke, and tailored audit services to meet legal, financial and compliance requirements
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